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Brent Crude Nears $100 as Houthi Rebels Strike Saudi Aramco Facilities
Energy Minerals · Oil & Gas Production · yonhap_finance · 2026-09-08
Global oil prices surged toward $100 per barrel as geopolitical tensions in the Middle East intensified following Houthi attacks on Saudi energy infrastructure.
What Happened
Escalating Geopolitical Tensions: Geopolitical instability in the Middle East has pushed international oil prices toward the $100-per-barrel threshold. The situation worsened significantly after Yemen's Houthi rebels launched large-scale strikes against Saudi Aramco facilities and air bases, fueling fears of supply disruptions.
Surge in Oil Prices: Brent crude for November delivery rose 0.95% to settle at $97.92 per barrel on the ICE Futures Europe exchange. During the session, prices spiked as high as $99.46, marking the highest level observed since late July.
U.S.-Iran Military Friction: The ongoing maritime conflict between the United States and Iran remains a primary driver of market volatility. Following U.S. strikes on Iranian oil tankers in response to missile attacks on U.S. naval vessels, the Iranian Revolutionary Guard Corps claimed retaliatory strikes against U.S. assets, further destabilizing the region.
Supply Disruption Concerns: Market analysts at Capital Economics noted that traders are now pricing in the potential for prolonged disruptions to maritime shipping routes. The combination of regional conflict and supply chain threats continues to exert significant upward pressure on global energy prices.