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DIPLOMACY, POLITICS, AND POLICY — UP CLOSE

Oil Prices Surge as Houthi Attacks in Saudi Arabia Fuel Market Concerns

- October 23, 2026, 04:48 AM ET

Global oil prices climbed on Thursday as renewed Houthi attacks in Saudi Arabia heightened concerns over regional security and potential disruptions to energy supplies.

Brent crude futures rose 1.2%, or $1.29, to $110.11 a barrel, while US West Texas Intermediate (WTI) crude gained 1%, or 97 cents, to $98.12 a barrel.

The gains followed a mixed session on Wednesday, when Brent crude prices ended nearly unchanged, while WTI fell 67 cents.

The latest price increases came after the United States ordered some non-emergency diplomatic personnel and their family members to leave Saudi Arabia following the attacks. The development has added to concerns over the escalating security situation in the region, Al Jazeera reported.

Reuters, citing a US official, also reported that the US State Department was considering withdrawing family members of personnel from several other diplomatic facilities in the region.

The renewed tensions have raised concerns about the potential impact on global energy markets, particularly if the conflict threatens oil production, transportation routes or regional exports.

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