Missiles Fired Toward Yanbu Push Brent Up About 4 Percent

The Saudi-led coalition said on Thursday, September 24, 2026, that it intercepted and destroyed six ballistic missiles which, it said, Yemen's Houthis had fired toward the city of Taif and the port of Yanbu. Al Jazeera reported that Reuters, citing two Greek security sources, said a Patriot system operated in Saudi Arabia shot down a ballistic missile and a drone in the Yanbu area. The Houthis had not claimed responsibility at the time of the report.

Yanbu, on the Red Sea, is the main outlet for Saudi crude when shipments through the Strait of Hormuz are disrupted, and it hosts major refineries. According to Sahmino's price data, Brent stood at about $107.8 a barrel at 19:30 Tehran time on Thursday, September 24, up nearly 4 percent on the previous day, while WTI traded at about $96.3.

Oil prices matter to Iran's economy both through foreign currency revenue and through inflation expectations in the currency and gold markets.