Middle East — 2026-09-25

Houthis Claim New Wave of Attacks on Saudi Aramco Facilities as Brent Crude Tops 106 Dollars

BLUFLayered Houthi strikes on Aramco infrastructure will likely keep Brent above $100 through October 25, with partial US-Iran diplomacy insufficient to unwind the Gulf supply-risk premium.

Yemen's Houthi movement claimed missile and drone attacks on a "sensitive target" in Riyadh and on Aramco facilities in the Red Sea city of Yanbu on Thursday, saying both operations "achieved their objectives successfully" 1. The Saudi-led coalition said it intercepted six ballistic missiles aimed at Taif and the Yanbu area; Saudi authorities have not confirmed any damage or casualties, and Aramco did not respond to inquiries 12. Brent crude settled up 3.4% at $106.60 a barrel, its highest close since September 15, while WTI rose 2.7% to $94.61 2. Reuters reported that prices pulled back from session highs of roughly 5% after reports that US and Iranian negotiators in New York discussed reopening the Strait of Hormuz 2. Gulf News noted the Brent-WTI spread widened to about $12.09 a barrel, reflecting elevated pricing of Middle East and seaborne supply risk relative to US domestic crude 3.

Analysis
Renewed Houthi strikes on Aramco infrastructure at Yanbu, layered onto an already elevated Hormuz-driven risk premium, keep crude markets primed for supply-shock repricing even as parallel US-Iran contacts offer a partial offset. Brent crude will likely trade above $100 a barrel through October 25, as unconfirmed Saudi damage assessments, Houthi claims of successful strikes, and unresolved Strait of Hormuz reopening talks sustain a persistent risk premium. We have high confidence in this judgment. The Brent-WTI spread's widening to nearly $12 shows traders pricing seaborne and Gulf supply risk apart from US domestic fundamentals, a divergence likely to hold as long as Red Sea and Gulf infrastructure remains exposed to attack.
4 sources
  1. Oil prices jump after Yemens Houthis claim attacks on Saudi facilities - Al Jazeera
  2. Oil prices settle up about 3% as Houthi attack on Saudi Arabia lifts supply fears - Reuters
  3. Brent Oil Surges Above $106 as Hormuz Tensions Revive Supply Fears and Widen Brent-WTI Spread - Gulf News
  4. Oil Prices Jump 4% as Houthis Fire Missiles at Saudi Arabia - GV Wire (Reuters)

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