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Oil Slips 1.8% to $114.60 After Houthi Attacks on Saudi Arabia
Why is oil down today?
Brent crude (BZ=F) fell 1.8% to $114.60 a barrel in early Monday trading as traders took profits after Houthi attacks on Saudi Arabia pushed oil to a six-month high.
Key numbers
| Brent crude, Monday | $114.60-1.8% on the day |
|---|---|
| Brent settle, Friday | $116.72+3.1%, highest since Apr 29 |
| Brent, weekly move | +6%week to Oct 23 |
| WTI crude, Monday | $101.13-2.1% on the day |
| Murban crude, Monday | $118+3% on the day |
| Coalition interceptions, Sunday | 12 missiles, 2 drones2 people hurt by debris |
What happened
Brent crude (BZ=F) fell 1.8% to $114.60 a barrel in early Monday trading as traders took profits after Houthi attacks on Saudi Arabia pushed oil to a six-month high. The Houthis, an Iran-backed armed group in Yemen, said they fired missiles and drones on Saturday at Aramco's Yanbu and Rabigh sites, the East-West pipeline and several airports. A Saudi-led coalition said it destroyed two ballistic missiles aimed at Yanbu and Taif, and no damage to oil sites has been confirmed. Brent had closed Friday at $116.72, its highest since April 29.
Why it matters
Oil prices matter to everyday readers because Brent, the global benchmark, helps set the cost of petrol, shipping and flights. Traders are paying more because the attacks put Saudi supply at risk, even though no damage has been verified. Brent is up about 6% in a week, and shipping rates remain high.
Who this affects
- MarketbearishMedium impact
- Higher oil prices hurt fuel buyers and import-heavy economies.
- CompanyneutralMedium impact
- Aramco reports no verified damage, but its Red Sea route is exposed.
- CompetitorsbullishLow impact
- Other oil producers gain from higher crude prices.
- IndustrybearishMedium impact
- Shippers and airlines face higher fuel costs and risks.
Brent Crude vs WTI Crude, Murban Crude
| Brent crudeBZ=F | $114.60 | -1.8% | +6% |
|---|---|---|---|
| WTI crudeCL=F | $101.13 | -2.1% | +2.3% |
| Murban crude— | $118 | +3% | — |
As of 2026-10-26
How we got here
Brent settles at $116.72, highest since April 29, on Houthi attacks inside Saudi Arabia.
Houthis claim strikes on Yanbu, Rabigh, East-West pipeline and airports; coalition says it downed two missiles.
Coalition reports 12 missiles and two drones intercepted; debris injures two people.
Brent slips 1.8% to $114.60 as traders take profits.
What to watch
- Whether Aramco or Saudi officials confirm any damage at Yanbu, Rabigh or the pipeline.2026-10-30
- Whether Brent closes the week above Friday's $116.72 six-month high.2026-10-30
Educational content only. Not investment advice.
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