Brent Crude Surges Above $95 as Houthi Attack Claims Raise Saudi Oil Supply Fears

Global crude oil prices climbed on November 13, 2026, as renewed tensions in the Middle East raised concerns about potential disruptions to Saudi Arabia’s energy infrastructure and international oil shipments. Brent crude futures moved above $95 per barrel during morning trading in India, recovering from approximately $92 at the previous market close. The rally followed claims by Yemen’s Iran-aligned Houthi group that it had attacked Saudi oil infrastructure, including a pumping station on the country’s East-West pipeline and an oil facility in Yanbu.

The increase in oil prices reflects growing uncertainty about the security of energy supply routes across the Middle East. Shipping through the strategically important Strait of Hormuz has also faced disruptions, while reports of attacks on oil tankers have added to market concerns. However, the latest price movement was not uniform across benchmarks: Brent traded above $95, while US West Texas Intermediate (WTI) remained below that level. The situation also remains fluid because several reported attacks have not been independently verified.

Brent Crude Rises Above $95 per Barrel

Brent crude futures traded at approximately $95.57 per barrel around 9:30 a.m. IST on November 13, compared with roughly $92 around the previous Indian equity market close.

US West Texas Intermediate crude futures traded at approximately $88.32 per barrel during the same period.

The rally followed a sharp increase during Thursday’s trading session. On November 12, Brent futures settled at $95.82 per barrel, gaining $3.06, or approximately 3.3%. WTI settled at $88.74, rising $2.21, or around 2.6%.

Despite the gains, both benchmarks were still on track for a weekly decline of approximately 3%, reflecting the volatility in oil markets during the preceding sessions.

Crude Oil Price Movement

Benchmark	November 12 settlement	November 13 morning trading
Brent crude	$95.82 per barrel	$95.57 per barrel
WTI crude	$88.74 per barrel	$88.32 per barrel

<text color=”secondary” size=”xs”>November 13 figures represent reported morning trading prices, not final settlement prices.</text>

The difference between Brent and WTI is important. Brent is the international benchmark used to price a large share of globally traded crude oil, while WTI is the main US benchmark.

Houthi Group Claims Attacks on Saudi Oil Infrastructure

The latest increase in oil prices followed claims by Yemen’s Houthi group that it had launched attacks on Saudi energy infrastructure.

The group said it targeted a pumping station along Saudi Arabia’s East-West crude oil pipeline using a drone. It also claimed to have struck oil facilities in Yanbu, a major industrial and energy centre on Saudi Arabia’s Red Sea coast.

The Houthis additionally claimed an attack on a Saudi Aramco building in Riyadh.

These claims raised concerns among traders because Saudi Arabia’s East-West pipeline is an important alternative export route when shipments through the Strait of Hormuz are disrupted.

However, the reported damage to the facilities was not independently confirmed at the time of the initial reports.

Saudi Arabia’s military coalition said it had intercepted and destroyed two drones launched by the Houthi group. One was intercepted over the Riyadh region, while another was intercepted in the country’s oil-producing Eastern Province.

The possibility of further attacks on energy infrastructure has become an important consideration for oil traders, particularly as regional tensions continue to affect shipping and export operations.

Why Saudi Arabia’s East-West Pipeline Is Important

Saudi Arabia operates the East-West pipeline, also known as Petroline, to transport crude oil from its eastern oil-producing regions to Yanbu on the Red Sea.

The pipeline provides an alternative route for exporting oil without sending tankers through the Strait of Hormuz.

This infrastructure has become particularly important during periods of regional conflict because the Strait of Hormuz is one of the world’s most significant energy shipping chokepoints.

Before the latest disruptions, the waterway carried nearly one-fifth of global crude oil exports.

When tanker traffic through the strait is restricted, Saudi Arabia can use its pipeline network to move crude towards Red Sea export terminals.

However, attacks on the pipeline or facilities around Yanbu could threaten this alternative route.

That possibility is particularly concerning for international markets because disruptions to both the Strait of Hormuz and the East-West pipeline could limit the amount of crude available for export.

For traders, the risk is not limited to whether oil production continues. The ability to transport crude from production sites to international buyers is equally important.

Strait of Hormuz Disruptions Add to Supply Concerns

The latest developments in Saudi Arabia come amid continuing shipping risks around the Strait of Hormuz.

Iran’s military said four oil tankers had been hit by explosions after ignoring warnings. The claims added to concerns about the safety of commercial shipping in the Gulf.

Reuters reported that it could not immediately verify Iran’s account.

The waterway connects the Persian Gulf with the Gulf of Oman and the Arabian Sea. Major oil exporters, including Saudi Arabia, Iraq, Kuwait and the United Arab Emirates, depend on the route for a significant share of their seaborne energy shipments.

Any prolonged disruption could affect crude availability, shipping insurance costs and freight rates.

The risk is particularly significant for Asian economies because countries such as China, India, Japan and South Korea rely heavily on imported energy from the Middle East.

Even without a complete closure, attacks on tankers and uncertainty around safe passage can cause shipping companies to delay journeys or seek alternative arrangements.

This can increase transportation costs and create additional pressure on global energy prices.

Goldman Sachs Warns Brent Could Reach $140 in 2027

The possibility of prolonged supply disruptions has also influenced oil price forecasts.

Goldman Sachs has warned that Brent crude could reach $140 per barrel in 2027 under an adverse supply scenario.

According to estimates cited in reporting by Reuters, the investment bank’s upside scenario assumes that Gulf oil production remains approximately 3.5 million barrels per day below its 2025 average.

Under that scenario, Brent could average around $130 per barrel during 2027.

These figures represent a risk scenario rather than the bank’s guaranteed price forecast.

The outlook illustrates how sensitive crude prices can be to disruptions in major producing regions. Even temporary reductions in production or export capacity can create significant uncertainty when global inventories and available spare capacity are limited.

However, prices could move in the opposite direction if shipping conditions improve, production increases or diplomatic developments reduce the risk of further attacks.

Higher Oil Prices Could Affect India

Rising crude oil prices are particularly important for India because the country imports a substantial share of its petroleum requirements.

Higher international oil prices can increase the cost of crude imports, potentially putting pressure on India’s trade balance and foreign exchange requirements.

The impact can also extend to domestic fuel prices, transportation costs and inflation.

Oil marketing companies purchase crude oil and process it into petrol, diesel and other petroleum products. When crude prices rise, refining and marketing margins can come under pressure depending on product prices, inventory costs and government pricing decisions.

Higher fuel costs can also affect industries that depend heavily on transportation and energy, including aviation, logistics, manufacturing and chemicals.

For consumers, sustained increases in crude prices could eventually contribute to higher costs across several parts of the economy.

However, changes in domestic petrol and diesel prices do not necessarily happen immediately or in direct proportion to international crude movements. Currency exchange rates, taxes, refining margins and government decisions also influence retail fuel prices.

Supply Growth and US Inventories Could Limit the Rally

Although geopolitical tensions are supporting oil prices, other market developments could limit further gains.

OPEC+ production increased in October, according to data reported during the latest trading period. Higher output can help offset supply disruptions and reduce pressure on international markets.

US inventory data also showed increases in crude oil, gasoline and distillate stocks during the previous week.

Rising inventories can indicate that available supply is improving or that demand is weaker than expected.

These developments provide a counterweight to geopolitical concerns.

Oil prices are therefore being influenced by two competing forces: the risk of supply disruptions in the Middle East and the possibility that higher production and available inventories will prevent a prolonged shortage.

The Bigger Picture

The latest oil rally demonstrates how quickly geopolitical developments can influence global energy markets. Saudi Arabia’s East-West pipeline and the Strait of Hormuz are both critical parts of the region’s oil export infrastructure. Concerns about their security have increased the risk premium built into crude prices, even as some of the reported attacks remain unverified.

For India and other major oil-importing economies, the situation is particularly important because sustained increases in crude prices can raise import bills, affect inflation and increase costs for businesses and consumers. The eventual direction of oil prices will depend on whether regional shipping and infrastructure operations remain disrupted or return to normal.

Looking Ahead

Oil traders will closely monitor developments around Saudi energy facilities, the East-West pipeline and commercial shipping through the Strait of Hormuz. Confirmation of major infrastructure damage or further restrictions on oil shipments could increase supply concerns, while successful interceptions, uninterrupted production and improved shipping conditions could reduce the pressure on prices. The difference between Brent and WTI will also remain important as markets assess the impact of regional developments on international and US crude supplies.

For India, the key question is how long crude prices remain elevated and whether the increase translates into higher domestic energy costs. A temporary price spike may have a limited impact, but a sustained period of expensive oil could put pressure on inflation, the trade deficit and transportation-intensive industries. The next phase of trading will depend heavily on developments in the Middle East and the actual availability of crude exports.