Oil rises as deadly attacks in Saudi Arabia fan Middle East supply fears

The headquarters of Saudi Aramco in Dhahran, Saudi Arabia, on Oct. 14. Deadly attacks in the kingdom, including against Saudi Aramco facilities, have heightened concerns that escalating Middle East hostilities could hit oil supplies. | AFP-JIJI

Oct 22, 2026

Oil advanced after deadly attacks in Saudi Arabia heightened concerns that escalating Middle East hostilities could hit supplies, even as exports through the Strait of Hormuz accelerate.

Brent rose to trade near $110 a barrel and West Texas Intermediate was around $98. A drone strike on Saudi Aramco’s Shaybah field killed two people but left operations unaffected, while an attack on the King Fahd International Airport in Dammam, Saudi Arabia, killed one. The U.S. also ordered the departure of some personnel and family members from American diplomatic facilities in the kingdom.

Global benchmark Brent has surged about 80% this year after flows from the Persian Gulf were disrupted by the U.S.-Iran war, which is approaching its ninth month with little sign of a resolution. Still, crude exports have climbed recently and are near preconflict levels as tankers switch off their transponders to avoid detection, although oil-product shipments remain constrained.

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