CNA links renewed supply concerns to Houthi attacks in Saudi Arabia and says United Arab Emirates authorities reported an oil spill as oil benchmarks finish the week higher.
Brent crude, the international oil-price benchmark, settled at $116.72 a barrel on 23 October, its highest since 29 April, CNA reported. The report linked renewed fears of disruption to Middle Eastern energy supplies to Houthi attacks in Saudi Arabia and also noted an oil spill reported by United Arab Emirates authorities.
The rise followed a five-month high on 22 October, when Brent crossed $112 a barrel for the first time since 18 May. The Guardian linked that session’s increase to attacks in Saudi Arabia and reported tanker hits in the Strait of Hormuz that threatened further disruption to global crude supplies.
Both Brent and US West Texas Intermediate (WTI), another major crude-oil benchmark, finished 23 October higher. CNA reported the following settlement prices—the prices recorded at the end of the trading session—and gains:
| Benchmark | Price per barrel | Daily gain | Daily gain (%) | Weekly gain |
|---|---|---|---|---|
| Brent | $116.72 | $3.55 | 3.14% | 6% |
| WTI | $103.27 |
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| $3.80 |
| 3.8% |
| 2.3% |
Armenpress had reported the following prices for 22 October in its report published on 23 October:
| Crude oil | Price per barrel | Daily change |
|---|---|---|
| Brent | $113.72 | +2.75% |
| WTI | $100.09 | +1.58% |
Yemen’s Houthis, who are aligned with Iran, struck several Saudi targets on 21 October. Two people were killed and eight wounded at a civilian airport in Dammam. A drone attack on a Saudi oilfield killed two more people.
The Strait of Hormuz is a major oil-shipping route: one-fifth of the world’s oil supplies passed through it before the war. US forces had been escorting increasing numbers of vessels through the waterway, while Iran had stepped up attacks.
Iranian state television reported that seven oil tankers were damaged in the Strait of Hormuz on the night of 21 October, according to the Guardian. In a statement on 22 October, Iran’s Islamic Revolutionary Guard Corps claimed that four tankers were transferring oil when they were targeted and caught fire overnight. It claimed that three others were disabled after striking mines. Al Jazeera said it could not independently verify the damage claims.
The Revolutionary Guard warned that it could strike US bases across the Middle East if the US moved to help tankers pass through other parts of the strait.
A US Central Command spokesperson, speaking anonymously to Al Jazeera, called the mine claims incorrect. The spokesperson said US forces had cleared the international shipping lanes of mines and that Iran was using missiles and drones. The strait remained open, with 95% of vessels getting through, according to the spokesperson.
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