ReportedShipping, energy & marketsGlobal oil markets
Brent touches $108 after Houthi barrage on Saudi Arabia, settles up 3.4%
- Mountain Time
- Local time
- 3:28 PM in New York
- Where
- Global oil markets
Brent crude surged about 5% to a session high of $108.23 after the Houthis fired missiles at Saudi Arabia, then pared gains on a report of talks on a phased Hormuz reopening to settle up 3.4% at $106.60 a barrel. U.S. crude rose 2.7% to $94.61.
Why it matters
Attacks on Saudi Arabia's Red Sea export route are now moving prices alongside the Hormuz talks, and Brent had gained more than 17% in September.
Sources (2)
- CNBCcnbc.comPublished
- Al Jazeeraaljazeera.comPublished
Confidence: Published by a named news organization. Not yet independently confirmed. About confidence labels