Crude Oil Surges as Houthi Attacks on Saudi Arabia Fuel Middle East Escalation Fears

Newsquawk · 2026-10-22

Global crude benchmarks registered substantial gains on Thursday as renewed Houthi militant strikes targeting Saudi Arabia heightened geopolitical anxiety across the energy markets. The Houthis claimed responsibility for assaults on the Ministry of Defence in Riyadh and an Aramco installation in Yanbu, prompting Aramco to direct personnel at its Dhahran headquarters to evacuate and work remotely. Concurrently, the United States State Department ordered non-essential diplomatic personnel and their dependents to depart Saudi Arabia. Market volatility intensified further after the Islamic Revolutionary Guard Corps Navy reported that four vessels carrying petroleum cargoes were struck in the Persian Gulf, while three additional ships detonated sea mines west of the Strait of Hormuz, accompanied by warnings toward Washington regarding passage security. During the session, WTI (Z6) futures climbed by USD 2.32 to settle at USD 99.47 per barrel, touching an intraday peak of USD 100.17 after starting from a low of USD 97.72. Meanwhile, Brent (Z6) futures advanced by USD 4.35 to finish at USD 113.17 per barrel, having reached a high of USD 113.40 compared to an earlier trough of USD 109.81.

AI 시장 분석

Crude oil prices surged due to a sharp rise in Middle Eastern geopolitical risks, driven by Houthi attacks in Saudi Arabia and vessel attacks in the Persian Gulf. WTI closed up $2.32 at $99.47 per barrel, and Brent crude rose $4.35 to $113.17 per barrel. Consequently, energy-related assets strengthened amid growing supply disruption concerns, while the transportation and chemical sectors faced downward pressure due to the hit from increased crude import costs. Investors must monitor potential further physical clashes in the Middle East and the stabilization of crude supply chains.

상승 영향

Crude Oil — WTI surged to $99.47 per barrel and Brent to $113.17 per barrel as supply disruption concerns grew following attacks on Saudi facilities and Persian Gulf vessels.
Defense — Military tensions are escalating due to geopolitical conflicts and intensifying armed clashes in the Middle East, concentrating demand and interest in the defense industry.

하락 영향

Airlines — The surge in oil prices directly leads to higher jet fuel costs, acting as a negative factor that significantly deteriorates airline profitability.
Shipping — Vessel attacks in Middle Eastern waters and increased risks in the Strait of Hormuz negatively impact earnings by forcing route detours and expanding fuel cost burdens.
Chemicals — The steep rise in crude oil prices triggers increases in basic raw material prices like naphtha, intensifying margin pressure on petrochemical companies.

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