Oil prices surge past $98 as Houthi attacks on Saudi facilities and US-Iran clashes escalate

96ENERGY

Oil prices surge past $98 as Houthi attacks on Saudi facilities and US-Iran clashes escalate

⚡ Markets: Direct threats to oil production facilities and key maritime chokepoints (Strait of Hormuz) create significant supply risk, pushing crude oil prices higher. This fuels global inflation concerns and weighs on equities.BrentWTIXLE

Brent crude oil prices rose to a six-week high above $98 per barrel amid escalating conflict in the Middle East. Reports indicate Houthi attacks hit a Saudi Aramco refinery in Jizan, while Iran threatened to expand its control over the Strait of Hormuz and warned that US energy assets in the Gulf are vulnerable following direct clashes.

West MSM 4Financial press 9West Right 2Regional 7Non-West State 10Google Non-West 3Google West 216 countries

37 sources across the spectrum

Financial pressWall Street Journal — Oil Extends Gains on Middle East Attacks; U.S. Gas Prices at Record High for Labor Day

West RightZeroHedge — Futures Drop As Iran Hostilities Send Brent To 6 Week High Above $97

RegionalTimes of India — 6-week high: India's crude import price hits $100-a-barrel mark

Financial pressMarketWatch — Oil prices climb after reports of Saudi Aramco refinery being hit by Houthi rebels

Non-West StateAl Mayadeen — ECB set to hike rates as war on Iran drives up energy costs

Financial pressCNBC — Oil prices rise to 6-week high after Iran and U.S. trade blows, Saudi Aramco facilities reportedly hit

Non-West StateTASS — Brent crude tops $98 per barrel on ICE for first time since July 24

Financial pressOilPrice — India’s Crude Oil Benchmark Tops $100 as Middle East War Escalates

← Full brief