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Oil Rises to $105 After Houthi Attacks on Riyadh Airport

The Nation Thailand2 min read6 sources

Why is oil up today?

Oil rose on Monday as Brent crude (BZ=F) gained 0.7% to $105.48 a barrel after Houthi attacks on Riyadh's airport and two tanker strikes raised fears of supply disruption.

Key numbers

Brent crude$105.48+0.73% (+$0.76)
Brent, later update$103.18-1.47% (per [5])
WTI crude (US)$92.44+0.64% (+$0.59)
Killed in Saturday airport strike12309+ wounded; 13 killed in some reports
Goldman December Brent forecast$90from $85
Estimated risk premium in price$20+per Goldman Sachs

What happened

Oil rose on Monday as Brent crude (BZ=F) gained 0.7% to $105.48 a barrel after Houthi attacks on Riyadh's airport and two tanker strikes raised fears of supply disruption. The Houthis, an Iran-backed group in Yemen, hit King Khalid International Airport again on Sunday, a day after a Saturday strike killed 12 people and wounded more than 300. A drone also struck a tanker near Oman's Sohar port, and another tanker was damaged in the Strait of Hormuz. Goldman Sachs raised its December Brent forecast to $90 from $85.

Why it matters

Brent crude, the world's main oil price benchmark, is trading above $105 a barrel as attacks hit Saudi Arabia, one of the biggest oil exporters. Higher oil prices usually feed into what people pay for fuel, flights and shipping. Goldman Sachs estimates just over $20 of the price is a fear premium for possible supply disruption, not an actual shortage. If attacks continue, that premium could grow.

Who this affects

Marketmixed
Medium impact
Oil buyers face higher prices; producers gain; price swings widen.
Companybearish
High impact
Riyadh airport operations suspended, disrupting travellers and airlines.
Competitorsbullish
Low impact
Oil exporters outside the conflict zone may benefit from higher prices.
Industrybearish
Medium impact
Tanker owners and insurers face higher risk near Hormuz and Oman.

Brent Crude vs WTI Crude

Brent crudeBZ=F105.48+0.73%$90
WTI crudeCL=F92.44+0.64%$81

As of 2026-10-12

How we got here

  1. Houthi strikes hit Riyadh airport, killing at least three people.

  2. Saudi-led coalition says it destroyed 82 Houthi targets across four Yemeni provinces.

  3. Houthi strike on King Khalid airport kills 12 and wounds more than 300.

  4. Airport hit again, Terminal 4 fire; drone strikes tanker near Sohar, Oman.

  5. Brent trades at $105.48 as tanker and airport attacks stoke supply fears.

What to watch

  • Saudi-led coalition's promised decisive response to the Houthi airport attacks.Week of 2026-10-12
  • Whether the US joins strikes on the Houthis; Trump pledged no Iran attacks before midterms.2026-11-03
  • Goldman's December Brent forecast of $90, which assumes supply adapts without new escalation.2026-12

Educational content only. Not investment advice.

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