Brent Crude oil futures experienced a sharp upward movement on Monday after Yemen’s Iran-aligned Houthi movement claimed responsibility for launching strikes against major Saudi Arabian energy facilities. The military escalation targeted strategic petroleum infrastructure in Riyadh and the Khurais oil-producing area, reviving global supply disruption fears from the region’s largest oil exporter.
Why Did Brent Crude Prices Rise Sharply On Monday?
International petroleum markets responded immediately after Houthi military spokesman Yahya Saree confirmed long-range ballistic missile and drone strikes against Saudi Aramco operations. Following the reported strikes, Brent crude futures rose 81 cents, or 0.79%, to $103.06 a barrel. Simultaneously, US West Texas Intermediate crude increased by 46 cents, or 0.50%, to trade at $91.57 per barrel.
Houthi military representatives declared the precise missile and drone operations were carried out as direct retaliation against Saudi-backed military actions in Yemen. Recent ground offensives and airstrikes by coalition forces supporting Yemen’s internationally recognized government have intensified across key battlefronts, including areas surrounding Taiz and Lahij.
Energy traders remain highly vigilant as ongoing conflict escalation threatens crucial processing facilities and export routes across the Middle East. With military commanders warning of further strikes if coalition operations continue, commodity markets are pricing in geopolitical risk premiums to safeguard against potential crude output drops and refining downtime.
