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Oil Edges Higher on Saudi Airport Attack

Crude oil prices rose above $92 per barrel on Monday, marking a third consecutive session of gains as Houthi attacks on Saudi Arabia’s main airport raised fears of a wider conflict that could disrupt energy flows further. Riyadh’s King Khalid International Airport was targeted again on Sunday by Iran-backed Houthi militants, a day after an earlier strike killed 12 people and injured more than 300, making it Saudi Arabia’s deadliest single incident since the Iran war began. Meanwhile, a drone struck a tanker near the Sohar anchorage off Oman over the weekend, just outside the Strait of Hormuz, underscoring still-elevated supply risks. Separately, US President Donald Trump said Russia and Ukraine had agreed to an “energy ceasefire” that would take effect immediately. In the US, the Department of Energy announced approval of an emergency exchange involving up to 4 million barrels of crude oil from strategic reserves to help mitigate supply disruptions caused by Hurricane Isaias.

SquawkNews Desk 2 updates Updated Oct 11, 2026, 11:48 PM UTC

Story updates

11:25:28 PM UTC
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Brent Edges Higher on Saudi Airport Attack
11:48:54 PM UTC
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Trump said the U.S. is considering joining Saudi Arabia in retaliatory strikes against Iran-backed Houthis in Yemen after a missile attack on Riyadh's main airport killed 12 people and injured 309, potentially expanding U.S. involvement in the Iran war. * Airport attacks: Saturday's strike hit King Khalid International Airport. Another projectile struck a terminal Sunday, following a Thursday attack that killed three Saudis. * Saudi response: Riyadh requested urgent U.S. defense support. The Saudi-led coalition pledged a decisive response, while Trump said no decision on U.S. involvement had been made. * Houthi threats: The group renewed warnings against using Saudi airports and continues threatening oil tanker traffic through the Bab el-Mandeb Strait, a critical Red Sea shipping route. * Military support: Washington recently approved a potential $24.3 billion F-35 sale to Saudi Arabia, pending congressional review. Britain is considering additional support but ruled out offensive operations for now. * Energy risks: Houthi disruptions in the Red Sea, alongside Iran's restrictions in the Strait of Hormuz, threaten energy shipments as the Iran war drives up global fuel prices.

Crude oil prices rose above $92 per barrel on Monday, marking a third consecutive session of gains as Houthi attacks on Saudi Arabia’s main airport raised fears of a wider conflict that could disrupt energy flows further. Riyadh’s King Khalid International Airport was targeted again on Sunday by Iran-backed Houthi militants, a day after an earlier strike killed 12 people and injured more than 300, making it Saudi Arabia’s deadliest single incident since the Iran war began. Meanwhile, a drone struck a tanker near the Sohar anchorage off Oman over the weekend, just outside the Strait of Hormuz, underscoring still-elevated supply risks.

Separately, US President Donald Trump said Russia and Ukraine had agreed to an “energy ceasefire” that would take effect immediately. In the US, the Department of Energy announced approval of an emergency exchange involving up to 4 million barrels of crude oil from strategic reserves to help mitigate supply disruptions caused by Hurricane Isaias.