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Brent Crude Jumps 3.3% to $95.82 After Saudi Pipeline Attacks
Why did Brent crude jump 3.3%?
Brent crude (BZ=F) rose 3.3% to $95.82 on Thursday and held near $95.41 on Friday after Yemen's Houthis claimed strikes on Saudi pipeline sites, though Saudi Arabia reported no confirmed damage.
Key numbers
| Brent settle (Thu) | $95.82+3.3% |
|---|---|
| WTI settle (Thu) | $88.74+2.6% |
| Brent week to date | $95.41-2.4% this week |
| Brent prior week | —-16% |
| East-West pipeline flow | ~4M bpdof 7M capacity (per [4]) |
What happened
Brent crude (BZ=F) rose 3.3% to $95.82 on Thursday and held near $95.41 on Friday after Yemen's Houthis claimed strikes on Saudi pipeline sites, though Saudi Arabia reported no confirmed damage. The Houthis said they hit a pumping station on the East-West pipeline and the Yanbu oil facility, plus an Aramco building in Riyadh. That pipeline carries about 4 million barrels a day around the disrupted Strait of Hormuz. Saudi forces said they shot down two drones, and Brent is still set for a second weekly drop, down 2.4%.
Why it matters
Brent crude is the price benchmark that helps set fuel costs for much of the world, and Saudi Arabia's East-West pipeline is a main way it exports oil while Hormuz is disrupted. Real damage to it would take barrels off the market and could push prices up, because there are few other ways out. For now these are only claims, and oil is still down on the week after a 16% drop the week before.
Who this affects
- MarketbullishMedium impact
- Oil traders face sharp price swings; fuel buyers face higher-cost risk.
- CompanybearishLow impact
- Saudi Aramco faces supply-route risk, though damage is unconfirmed.
- CompetitorsbullishLow impact
- Producers outside the Gulf may gain if prices stay higher.
- IndustrybearishMedium impact
- Shippers and refiners face higher costs and route risks.
Brent crude vs WTI crude
| Brent crudeBZ=F | $95.82 | +3.3% | -2.4% |
|---|---|---|---|
| WTI crudeCL=F | $88.74 | +2.6% | -2.5% |
As of 2026-11-13
How we got here
Iran closes the Strait of Hormuz at the start of the war.
Brent briefly falls below $90 for the first time since August on Iran hopes.
Houthis claim strikes on Saudi pipeline, Yanbu and Riyadh; Brent settles at $95.82.
Trump says an Iran deal is not needed; Brent holds near $95.41.
What to watch
- Whether Saudi Arabia or Aramco confirms damage or lower flows on the East-West pipeline.2026-11-16
- Brent's Friday close, which decides if it posts a second straight weekly decline.2026-11-13
- Trump's Iran blockade and further tanker incidents near Hormuz.Q4 2026
Educational content only. Not investment advice.
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