Oil prices climb sharply after Yemen’s Houthi rebels attack two Saudi oil tankers in the Red Sea, with markets reacting to heightened supply disruption risks. Financial Times and Al-Monitor both report that the Houthis, described as Iran-backed, say they used missiles and drones to target the Saudi vessels Encelia and Layla. In response to the attacks, benchmark oil prices increase: Financial Times reports oil jumps to about $96, while Al-Monitor says prices move toward $100 and top $100 for the first time since May. The outlets attribute the price gains to expectations that shipping and regional security conditions could affect crude flows through the Red Sea. Together, the reports frame the attacks as part of an ongoing campaign by the Houthis against vessels linked to regional targets, and they link the immediate market reaction primarily to investor concern over potential disruption rather than to confirmed changes in production. The reports also note that broader political rhetoric, including threats referenced by Al-Monitor, is part of the backdrop as prices move higher.
Oil prices rise after Houthi attacks on Saudi tankers in the Red Sea
Oil prices climb sharply after Yemen’s Houthi rebels attack two Saudi oil tankers in the Red Sea, with markets reacting to heightened supply disruption risks. Financial Times and Al-Monitor both repor...
- Houthi rebels say they attack two Saudi tankers, Encelia and Layla, in the Red Sea.
- The Houthis describe using missiles and drones in the attack.
- Benchmark oil prices rise after the incident, with oil reaching about $96 and moving toward or above $100.
- Al-Monitor says $100 is the first level since May, while Financial Times reports a move to roughly $96.
- The attacks and market moves are linked to concerns about shipping and supply disruption in the region.
The Iran-backed rebels said they had targeted two Saudi tankers, the Encelia and the Layla.
4 hours agoThe Iran-backed rebels said they had targeted two Saudi tankers, the Encelia and the Layla.
4 hours agoYemeni rebels say they used missiles and drones to target the vessels Encelia and Layla
7 hours agoBrent prices rise after Yemeni rebels say they hit the Encelia and the Layla
11 hours ago
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