News alert

Crude at $107 after reported Houthi attacks on Saudi Arabia’s crucial oil sites

Wednesday, 14 October 2026 at 8:20 am ISTSource: CapitCue, from oil-market data and media reports listed below

Brent touched $107.13 a barrel on Wednesday morning and is trading near $106.6, as Houthi attacks on Saudi Arabia raise fears for oil supply.

Brent crude oil touched $107.13 a barrel on Wednesday morning, 14 October 2026, and is trading near $106.6, up about 0.9% on the day, after continued attacks by Yemen’s Houthis on Saudi Arabia. Brent has now risen from about $100 last week and settled at $106.65 on Monday, which was its highest close since mid-September. CapitCue’s feed shows the price at $106.63 as this story was written.

What has happened

The Houthis, who control much of Yemen, have been attacking Saudi Arabia since hostilities reignited in July. Reports describe attacks on Saudi infrastructure over the past several days, including a deadly strike on Riyadh’s main airport that has kept it closed, and claimed strikes on Aramco oil facilities. Earlier attacks have disrupted operations of the East-West pipeline, a key route for Saudi oil exports, and one report said a past pipeline attack would take three to five weeks to repair, with the line able to run partly in the meantime. A report circulating on Tuesday said the Houthis had also targeted the Aramco headquarters. CapitCue could not confirm that report, and Saudi authorities have not confirmed whether the attacks caused damage or casualties at oil sites.

Why oil is rising

Traders are worried that attacks on Saudi Arabia, the world’s largest oil exporter, could cut supply at a time when the market is already tight. Analysts also point to missile strikes on tankers trying to pass through the Strait of Hormuz and to the wider conflict involving Iran. One analyst quoted in the media says Brent could test $120 if the tension continues. On 7 October Brent was trading near $101.5, when Saudi officials said pipeline flows had recovered.

What it means for India

India imports most of the crude oil it uses, so a higher oil price widens the import bill, puts pressure on the rupee, and raises costs for oil marketing companies, airlines, paint, tyre and chemical makers. It also adds to inflation worries: India’s retail inflation for September is reported at 5.54%, and CapitCue is still checking that figure against the official release. The rupee is near 95.3 to the dollar and MCX crude is near ₹8,957 a barrel. GIFT Nifty is near 22,761, down 0.05%, after the Nifty rose 1.6% on Tuesday.

This story was compiled by CapitCue from market data and the media reports listed below. Details of the attacks are reported by the media and not confirmed by Saudi authorities. CapitCue provides information only; it is not investment advice.

Sources: OilPrice.com: Brent back above $100 as Houthis hit Saudi infrastructure · Al Jazeera: Oil prices jump after Yemen’s Houthis claim attacks on Saudi facilities · The Hill: Houthi strike on Saudi infrastructure sends oil prices soaring · Oil Prices Today: Brent climbs to near two-week high as Houthi attacks and Hormuz tanker strikes raise supply fears

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