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Houthis Say They Attacked Saudi Oil Sites as Oil Prices Climb to $115 a Barrel

Yemen's Houthis said they attacked Saudi oil sites including the Ras Tanura refinery on Thursday, and oil prices rose Friday, with Brent crude reaching $115.74 a barrel on supply concerns.

By admin Oct. 30, 2026 · 11:46 AM ET 2 min read

A large oil refinery complex with tall metal distillation towers, pipes and storage tanks under a clear sky.

Oil prices climbed in early trading on Friday after Yemen’s Iran-aligned Houthis said they had attacked several sites in Saudi Arabia, including the kingdom’s largest oil refinery.

A large oil refinery complex with tall metal distillation towers, pipes and storage tanks under a clear sky.
A large oil refinery complex with tall metal distillation towers, pipes and storage tanks under a clear sky.

The Houthis said on Thursday they had attacked Ras Tanura, the Rabigh refinery and an Aramco facility in Abqaiq, according to Reuters. A Saudi-led coalition said it had intercepted a cruise missile launched by the Houthis toward the kingdom’s western region.

Brent crude futures rose 86 cents, or 0.75 percent, to $115.74 a barrel as of 0122 GMT, Reuters reported. U.S. West Texas Intermediate crude rose 72 cents, or 0.71 percent, to $102.72.

Fourth straight monthly gain

Rows of large white cylindrical oil storage tanks at an industrial terminal under a clear sky.
Rows of large white cylindrical oil storage tanks at an industrial terminal under a clear sky.

For the month, Brent was on course to finish nearly 14 percent higher, while WTI was heading for a 15 percent jump and a close above $100 for the first time since April, Reuters reported. The gains put oil on track for a fourth straight monthly increase and its steepest since July.

“Continued kinetic action around the Strait of Hormuz amidst doubts of a viable diplomatic pathway are keeping oil prices elevated in expectation of an escalation of the conflict in coming weeks,” said Saul Kavonic, head of energy research at MST Marquee.

Diplomacy and shipping strains

A large dark oil tanker ship sailing on open sea under a hazy sky.
A large dark oil tanker ship sailing on open sea under a hazy sky.

U.S. President Donald Trump said on Thursday that Vice President JD Vance had reached out to Iran to help the country get medical supplies, after U.S. media reported Vance had written to Tehran’s top security official to revive peace talks. Iran has received a letter from Vance but has not responded to it yet, the country’s semi-official Tasnim news agency reported, while adding that Tehran wants the U.S. to meet its conditions.

Iran’s Revolutionary Guards said three tankers hit sea mines, exploded and caught fire while attempting to use an unauthorized route south of the Strait of Hormuz, Reuters reported.

Several oil pumpjacks standing in a dry desert field with low hills in the background at sunset.
Several oil pumpjacks standing in a dry desert field with low hills in the background at sunset.

Amid security concerns in the region, ExxonMobil and Chevron have cancelled plans for their executives to travel to the United Arab Emirates’ biggest oil show next week, two sources familiar with the developments told Reuters.

Reporting based on coverage by Reuters.

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