Brent tops $113 as Saudi attacks and US-Iran risk squeeze energy markets
· Finance · Saudi Arabia · Iran
Brent crude rose above $113 a barrel, its highest level since May, after Yemen's Houthis launched fresh attacks on Saudi Arabia's energy infrastructure and reports suggested the US plans to resume strikes against Iran. Oil futures rose sharply as the market weighed the risk of further US-Iran hostilities disrupting Middle East supplies. Tanker rates have soared, and MarketWatch reported that Wall Street may be starting to price in a full-scale regional conflict that could further choke off global energy supplies. The surge is feeding through to financial markets, where it coincided with a flight to government bonds and a selloff in technology shares.
Why it matters：Oil above $113 restores an inflation shock to the global outlook just as central banks weigh further easing or tightening, and sustained tanker-rate spikes would raise costs across shipping and industry.
Key points
- Brent topped $113, its highest since May
- Yemen's Houthis launched fresh attacks on Saudi energy infrastructure
- The US reportedly plans to resume strikes against Iran
Sources (original reporting)
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