Brent Hits $114 as Houthi Attacks Threaten Saudi Energy Infrastructure

Brent crude oil prices surged to $114 per barrel as escalating Houthi attacks on Saudi Arabia, Libyan supply disruptions, and fears of renewed U.S.-Iran hostilities intensified market concerns. Brent was on track for a weekly gain of about $6, while West Texas Intermediate rose from roughly $99 to $100.40 per barrel. Aramco ordered personnel evacuation from its Dhahran headquarters, suggesting longer-range Houthi capabilities, while Libya's National Oil Corporation shut a pipeline feeding the Zawya terminal. ING analysts warned of potential Persian Gulf escalation, citing possible fresh U.S. strikes on Iran and a second aircraft carrier deployment. The bank revised its fourth-quarter Brent outlook, calling the previous $80 average estimate "unattainable."