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FrontRow · Oct 28, 2026

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Oil prices climbed Wednesday as investors weighed the prospect of a prolonged and widening Middle East conflict after Tehran-backed Houthis attacked Saudi Arabia's largest refinery. International benchmark Brent crude futures rose $1.50, or 1.32%, to $115.59 per barrel, while U.S. West Texas Intermediate crude futures gained $1.47, or 1.47%, to $101.37 per barrel. The Houthis said on Tuesday they had attacked Saudi Arabia's Ras Tanura refinery with a ballistic missile, raising worries of an escalation in the regional conflict. Trump, meanwhile, said that the war with Iran would end on his terms, while insisting that Tehran must be prevented from acquiring nuclear weapons.

Oil prices climbed Wednesday as investors weighed the prospect of a prolonged and widening Middle East conflict after Tehran-backed Houthis attacked Saudi Arabia's largest refinery. International benchmark Brent crude futures rose $1.50, or 1.32%, to $115.59 per barrel, while U.S. West Texas Intermediate crude futures gained $1.47, or 1.47%, to $101.37 per barrel. The Houthis said on Tuesday they had attacked Saudi Arabia's Ras Tanura refinery with a ballistic missile, raising worries of an escalation in the regional conflict. Trump, meanwhile, said that the war with Iran would end on his terms, while insisting that Tehran must be prevented from acquiring nuclear weapons.

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