Brent Back Around $106 as the Houthi Strike on Aramco's Headquarters and Hormuz Tensions Keep Supply Fears Alive

Brent crude traded around $106 a barrel on Wednesday 14 October 2026 (22 Mehr 1405): Trading Economics showed $105.67, Mehr $106.2 and Donya-e-Eqtesad $106.32. West Texas Intermediate was $94.64 according to Mehr. Brent is about 2.8 percent lower than a month ago but 70.7 percent higher than a year earlier.

Trading Economics ties the rise to escalating hostilities between Saudi Arabia and Yemen's Houthi forces. On Tuesday the Houthis struck Saudi Aramco's headquarters in Dhahran with a missile, starting a fire in part of the complex; Saudi Arabia's Energy Ministry has confirmed damage to the building. Riyadh's main airport was also targeted over the weekend, and a Saudi-led coalition has launched an offensive to retake Houthi-held territory.

The same source writes that the United States says it has helped facilitate the passage of more than 19 million barrels of crude through the Strait of Hormuz, and that President Donald Trump defended his diesel export agreement with Russia. Trading Economics projects Brent at $108.60 by the end of this quarter; that is the firm's model estimate, not a certainty.