Brent oil hits near six-month high after Houthi attacks in Saudi Arabia
Brent settled at $116.72 a barrel, its highest since April 29, while the S&P 500 energy sector hit a record as US stocks ended lower.
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what happened
Brent crude rose 3.14% to settle at $116.72 a barrel, its highest level since April 29. US West Texas Intermediate gained 3.8% to $103.27. The move followed Houthi attacks in Saudi Arabia, which revived fears of further disruption to Middle East energy supplies. UAE authorities also reported an oil spill, according to Reuters.
The S&P 500 energy sector gained 2.5% to a record high. The Dow Jones Industrial Average fell 1.23%, the S&P 500 lost 0.52% and the Nasdaq Composite slipped 0.21%. The 10-year Treasury yield climbed to 4.99%.
why it matters
Higher crude adds to inflation pressure and could shape expectations for rates in the US and Europe. Energy producers benefit from the price rally, while transport and consumer companies face higher costs. Source: Reuters.
market impact
Oil: supply-disruption risk in the Middle East supports Brent; energy stocks rise while broader indexes slip
tags
instruments
sources
- Stocks fall, but tech shares steady after selloff; oil hits highest in nearly six months — Reuters, 23 October 2026 at 21:39 UTC
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