Brent settles at $116.72, highest since April, after Houthi attacks on Saudi Arabia
Oil jumped 3.1% on Oct. 23 for a weekly gain of about 6%, and energy stocks hit a record.
Middle East tensions escalated after Yemen’s Houthi rebels attacked Saudi Arabia’s King Fahd airport and drones aimed at Aramco facilities were intercepted. Brent rose 3.1% on Oct. 23 to settle at $116.72 a barrel, its highest close since April.
- Weekly move: Brent gained about 6% for the week, and the S&P 500 energy sector closed at a record.
- Why it matters: Higher oil feeds inflation and can delay rate cuts, while hurting airlines and other fuel-heavy industries.
- What to watch: Further attacks, the U.S. response and OPEC+ supply talks.
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