Oil prices soar to $111.75 due to tanker attacks and Saudi energy threats
2026-10-20 22:56:18
CoinMeta data: The price of Brent crude oil soared to $111.75 per barrel on October 20, hitting a five-month high. This increase was fueled by attacks on oil tankers and threats to Saudi Arabia's energy infrastructure, reigniting concerns about disruptions in Middle Eastern supply. In the past two weeks, at least 18 vessels have been attacked, and the Houthi rebels in Yemen, supported by Iran, claimed to have carried out additional strikes on Saudi oil, airports, and military facilities. Although oil exports from the Gulf region have recovered to some extent, rising transportation costs and the recurrence of attacks threaten this improvement. A report by the International Energy Agency (IEA) shows that Gulf crude oil exports increased to 13.9 million barrels per day in September, exceeding pre-war levels by 75%. However, rising transportation costs and the recurrence of attacks could affect this trend.
Source:Coinpaper
This content is for market information only and does not constitute investment advice.
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