2026.10.2010:13:48UTC+00Crude Oil Tops $100

Crude oil rose above $100 a barrel on Tuesday, its highest level in more than four weeks, as renewed Houthi attacks and reports of vessel strikes in the Gulf deepened concerns over supply security in the Middle East. Yemen’s Iran-aligned Houthi movement claimed responsibility for attacks on Saudi energy, airport and military facilities, including an Aramco site in Yanbu and the Shaybah oilfield.

Market anxiety intensified after shipping tracker Kpler reported that at least 18 vessels had been attacked over the past two weeks, underscoring the geopolitical risk premium currently embedded in oil prices. The latest escalation follows a deadly Houthi strike on a security forces training camp in Yemen.

Analysts cautioned that prices could stay elevated as long as regional supply routes remain under threat, though they noted that the risk premium may gradually ease if crude and product shipments continue without major disruption. Meanwhile, US crude and refined-product inventories were expected to have declined last week.