Oil prices climb $2.00 per barrel to $99 following Saudi Houthi attacks
Global oil markets rose sharply after reports of Houthi assaults on Saudi facilities and geopolitical threats from Iran.
Oil prices surged Tuesday, with Brent crude futures rising $2.00 to $99.00 per barrel and U.S. WTI climbing 3.2% to $94.41. This move marked a multi-week high as reports emerged that the Iran-aligned Houthi group attacked energy facilities in Saudi Arabia, halting operations at some sites and injuring more than 70 people. Analysts noted that geopolitical risk premiums were driving much of the price action, alongside physical constraints due to reduced tanker flows through the Hormuz Strait. Tensions escalated further as Iran threatened the United States with economic warfare and deployed advanced missiles near U.S. warships. Saudi authorities described the assault on their infrastructure as a dangerous escalation within an ongoing conflict involving major regional players.
