PomegraBrent Crude Rises to $106 After Houthi Aramco Attack
Why is oil up today?
Brent crude (BZ=F) rose 0.9% to about $106.60 a barrel on Wednesday after a Houthi missile hit an administrative building at Aramco's Dhahran headquarters, raising fears for Gulf oil supplies.
Key numbers
| Brent crude | $106.60+0.9% Wednesday |
|---|---|
| WTI crude (US benchmark) | $95.44+1.4% Wednesday |
| Brent Tuesday close | $105.69-0.9% (-96 cents) |
| Aramco shares (per [6]) | SAR 25.58-1% Wednesday |
| Hurt in Riyadh by missile debris | 4 people15 homes damaged |
What happened
Brent crude (BZ=F) rose 0.9% to about $106.60 a barrel on Wednesday after a Houthi missile hit an administrative building at Aramco's Dhahran headquarters, raising fears for Gulf oil supplies. The missile started a limited fire, which has since been put out, and nobody was hurt. It came after Saudi-led forces struck a fuel station in Houthi-held Sanaa, and the Houthis have warned of more attacks on Saudi airports and oil sites. Aramco has not reported any lost oil output so far.
Why it matters
Brent crude, the global price benchmark for oil, now sits near $106 a barrel, so attacks on Gulf energy sites can quickly feed into petrol, diesel and heating costs. This hit was on an office building rather than an oil-processing site, but it shows Houthi missiles can reach the core of Saudi Arabia's state oil giant. Earlier this year, Houthi strikes halted the Ras Tanura refinery for 16 days.
Who this affects
- MarketmixedMedium impact
- Oil traders price in risk; fuel buyers face higher costs.
- CompanybearishLow impact
- Aramco shares slipped 1%; no output loss reported yet.
- CompetitorsmixedLow impact
- Gulf rivals face similar risks; non-Gulf producers gain.
- IndustrybearishMedium impact
- Gulf energy sites and shipping face rising security risk.
Brent Crude vs WTI Crude
| Brent crudeBZ=F | $106.60 | +0.9% | — |
|---|---|---|---|
| WTI crudeCL=F | $95.44 | +1.4% | -$11.16 |
As of 2026-10-14
How we got here
Houthis attack King Khalid International Airport in Riyadh.
Saudi-led coalition says it intercepted a Houthi ballistic missile fired toward Riyadh.
Coalition hits Sanaa fuel station; Houthi missile then strikes Aramco's Dhahran office.
Brent trades near $106.60 as Houthis threaten more strikes on Saudi oil sites.
What to watch
- Whether Houthis hit Saudi oil processing or export sites, not just offices.Q4 2026
- Aramco's third-quarter results, for any damage or output impact.2026-11-03
- Further ship attacks near the Strait of Hormuz, a key oil shipping route.Q4 2026
Educational content only. Not investment advice.
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