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Brent Crude Dips Despite Houthi Attacks on Saudi Infrastructure
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Moneycontrol•20-10-2026, 04:58
Brent Crude Dips Despite Houthi Attacks on Saudi Infrastructure
- •Brent crude futures settled 31 cents lower at $109.55 a barrel after falling earlier in the session as investors booked profits following a rally.
- •US West Texas Intermediate gained $2.25 to $103.66 a barrel, achieving its highest settlement since September 15.
- •Yemen's Houthis claimed responsibility for attacks on Saudi energy, airport and military targets, including facilities in Yanbu and the Shaybah oilfield.
- •Crude flows through the Strait of Hormuz dropped to about 8.5 million barrels per day due to rising threats to commercial shipping.
- •US President Donald Trump signed an executive order waiving certain sanctions on Russian energy exports to help lower prices ahead of elections.
Key Questions Answered
Brent crude futures fell 31 cents to $109.55 a barrel as investors booked profits following the previous week's rally to a five-month high.
The Houthis stated they targeted energy, airport, and military sites in Saudi Arabia, including an Aramco facility in Yanbu, the Shaybah oilfield, and airports in Riyadh and Abha.
US President Donald Trump signed an executive order on Friday waiving specific sanctions and tariffs related to Russian energy exports to lower energy prices before the November elections.
