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Brent Crude Tops $112 a Barrel as Iran Claims Seven Ships Hit and Houthi Strikes Escalate in the Gulf

Crude prices hit their highest level in five months on Thursday after Iran's Revolutionary Guard claimed its forces hit four tankers and mines struck three more vessels near the Strait of Hormuz, while Houthi strikes on Saudi Arabia prompted the U.S. to order non-essential staff out of the kingdom.

By admin Oct. 22, 2026 · 1:42 PM ET 1 min read

A large oil tanker sailing on calm water at sunset

Brent crude futures rose about 3% on Thursday to roughly $112 a barrel, their highest level in five months, as markets absorbed a new wave of escalation in the Middle East: Iranian claims of strikes on ships in the Persian Gulf and expanding Houthi attacks on Saudi oil infrastructure.

Cargo ships and tankers sailing on the open ocean at golden hour

Iran’s Islamic Revolutionary Guard Corps said its navy had tracked and hit four tankers involved in what it called illegal ship-to-ship oil transfers in the northern Persian Gulf, and said three other vessels struck mines west of the Strait of Hormuz. The IRGC warned the United States that continued provocations could bring a wider response against regional U.S. bases, according to OilPrice.com. The claims have not been independently verified, and the IRGC did not identify the vessels.

An offshore oil platform at dusk with its lights on

At the same time, Houthi fighters in Yemen widened strikes on Saudi Arabia. On Wednesday, two people were killed and two injured by debris from intercepted drones near a processing plant at the Shaybah oil field, one of Saudi Arabia’s largest, OilPrice.com reported. Operations at the field were unaffected, but the attack added to concerns that a major oil site could be hit next.

An oil processing plant with flare stacks and storage tanks lit up at night in the desert

Washington orders personnel out of Saudi Arabia

The United States ordered non-essential government personnel, diplomats and their families to leave Saudi Arabia, a step that showed how seriously Washington views the security risk. Saudi Aramco instructed staff to leave its Dhahran headquarters and work remotely, according to Zotpaper.

U.S. WTI crude rose about 2.8% to near $100 a barrel. Brent had already pushed back above $110 earlier in the conflict, and the latest jump extends the pressure on global fuel costs heading into winter.

Reporting based on coverage by OilPrice.com and Zotpaper.

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