Pomegra
Oil Stays Near $106 After Saudi Airstrikes on Yemen
Why are oil prices near $106 today?
Brent crude (BZ=F) fell 0.9% to $105.69 on Tuesday, staying near a two-week high, as Saudi-led airstrikes in Yemen and Houthi attacks on Riyadh's airport kept supply fears alive.
Key numbers
| Brent crude settle | $105.69-96 cents on day |
|---|---|
| WTI crude (US benchmark) | ~$94+0.4% on day |
| Airstrikes in 24 hours (Houthi claim) | 104unconfirmed by Saudi Arabia |
| Deaths in a week of airport attacks | 20+13 in Saturday strike |
| Wounded in Saturday attack | 300deadliest on Saudi Arabia in 10+ years |
What happened
Brent crude (BZ=F) fell 0.9% to $105.69 on Tuesday, staying near a two-week high, as Saudi-led airstrikes in Yemen and Houthi attacks on Riyadh's airport kept supply fears alive. The Houthis say Saudi-led forces made 104 airstrikes and missile attacks in Yemen in 24 hours, a figure Saudi Arabia has not confirmed. A Saturday attack on Riyadh's airport killed at least 13 people, and about 20 have died in a week. President Trump said the US "may" join the strikes, and the Houthis vow a "swift and painful" response if it does.
Why it matters
Brent crude, the global benchmark for oil prices, is holding near $106 because Saudi Arabia, a major oil producer, is under attack. Higher oil prices can raise fuel costs and push up prices across the economy. If the US joins the strikes or restarts attacks on Iran, the fighting could widen and put more oil supply at risk.
Who this affects
- MarketmixedMedium impact
- Oil traders face swings; fuel buyers face higher costs.
- CompanybearishMedium impact
- Saudi Aramco faces attack risk near its Dhahran headquarters.
- CompetitorsbullishLow impact
- Non-Gulf oil producers may gain from higher prices.
- IndustrybearishMedium impact
- Airlines and shippers face higher fuel and security costs.
Brent Crude vs WTI Crude, Gold
| Brent crudeBZ=F | $105.69 | -0.9% |
|---|---|---|
| WTI crudeCL=F | ~$94 | +0.4% |
| Gold (spot, Oct 12)XAU | $4,178 | +0.1% |
As of 2026-10-13
How we got here
Houthi strike on Riyadh airport kills at least 13 and wounds about 300.
Trump says the US "may" join Saudi strikes on the Houthis.
Houthis claim 104 Saudi airstrikes in 24 hours and threaten the US.
Brent settles at $105.69; booms reported near Aramco's Dhahran headquarters.
What to watch
- Whether Trump joins the strikes; TIME reports no Iran strike before US midterms.2026-11-03
- Any further attacks on Saudi oil sites after booms near Aramco's Dhahran headquarters.2026-10-14
Educational content only. Not investment advice.
More briefsAll briefs →
Oil Holds Above $105 as Iran Strike Fears Linger
Brent crude (BZ=F) settled at $105.69 as Iran bolstered nuclear site defenses and warned of retaliation.
Wells Fargo Stock Falls 3% on Revenue Miss Despite Profit Beat
Wells Fargo (WFC) missed revenue forecasts by about $440M as trading and interest income came in light.
Citigroup Stock Falls 5.6% Despite Q3 Earnings Beat
Citigroup (C) earned $2.85 a share on $23.8B revenue as bond trading grew 4%, but profit fell from Q2.