OIL PRICES JUMP $3 ON HOUTHI ATTACKS, OIL SPILL, HIGHEST SETTLEMENT SINCE APRIL
- Brent futures close at highest since April 29, WTI ends week 2.3% higher
- Tanker carrying Russian diesel heads to New York, data shows
- US Energy Department authorizes emergency exchange of up to 400,000 barrels of crude from SPR
NEW YORK, Oct 23 (Reuters) – Oil prices settled more than $3 higher on Friday, their highest in nearly six months after Houthi attacks in Saudi Arabia stoked concerns over further disruption to energy supplies from the Middle East, where UAE authorities also reported an oil spill.
Brent crude futures settled at $116.72 a barrel, up $3.55 or 3.14%, their highest since April 29. US West Texas Intermediate crude closed at $103.27 a barrel, up $3.80 or 3.8%.
Brent finished the week up 6% and WTI ended 2.3% higher.
“Fears of supply disruptions drove the advance after Iranian-backed Houthi rebels carried out a series of attacks across Saudi Arabia, including on energy infrastructure,” said Adam Turnquist, chief cross-asset strategist for LPL Financial.
OCTOBER 26, 2026 – REUTERS
On Thursday, Saudi Aramco (2222.SE), opens new tabordered the evacuation of its headquarters in Dhahran on the Gulf near Bahrain, Reuters reported. Fighting intensified between Saudi Arabia, the world’s largest crude exporter and Yemen-based Houthis.
An oil spill from a tanker was detected off the UAE coast of Umm Al Quwain, the United Arab Emirates Ministry of Climate Change and Environment said. It did not say what caused the spill and authorities have not identified the tanker involved.
