Oil nears $100 on Saudi strikes tied to Yemen Houthis
Iran-backed Yemen Houthis launched ballistic missiles and drones, wounding dozens and targeting energy installations in southern Saudi Arabia, halting some operations. Oil prices moved toward $100 a barrel as fears of broader Middle East disruption grow.
The latest ballistic missile and drone strikes by the Iran-backed Houthis wounded dozens and targeted energy installations in southern Saudi Arabia, forcing the facilities to halt some operations. Attacks on Saudi energy infrastructure have pushed oil prices toward the 100 a barrel mark as concerns rise that the largely dormant Middle East conflict is worsening. The pace of the attacks remains far below the peak of the war, but Washington and Tehran have traded fire in recent days and rhetoric from both sides has been aggressive, while passage through the Strait of Hormuz remains restricted.
Goldman Sachs raised its oil-price forecast, citing a new assumption that Mideast shipping disruptions will continue into 2027.