Renewed Houthi Attacks Increase Risk of Brent Rising Above $120
Capital Economics says a Saudi or allied response to attacks on Riyadh could widen the Middle East conflict and disrupt oil flows.
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what happened
The latest Houthi attacks on Riyadh increase the possibility of renewed disruptions to energy shipments from Saudi Arabia and potentially elsewhere in the region, Jason Tuvey of Capital Economics said in a note, according to Dow Jones Newswires. He said retaliation by Saudi Arabia or allied forces could intensify and widen the current conflict in the Middle East.
One possible consequence would be a halt to ship-to-ship oil transfers, which have recently enabled substantial volumes of crude to leave the Gulf. Additional refinery damage would keep refined-product prices elevated, including those for gasoline and diesel. “All of that would push us closer to an adverse scenario for global energy markets that envisages Brent crude rising to at least $120 per barrel,” Tuvey said.
why it matters
For markets, the assessment points to a higher geopolitical premium in crude prices and potential pressure on both oil supplies and refined-product output. The impact would depend on whether any retaliation leads to a broader conflict and an interruption of ship-to-ship transfers.
instruments
sources
- Renewed Houthi Attacks Raise Risk of Brent Above $120 a Barrel — Market Talk — Dow Jones Newswires, 12 October 2026 at 14:00 UTC
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