Middle East escalation lifts Brent above US$105

Brent crude extended its advance on Monday, 12 Oct 2026, as escalating Middle East hostilities and attacks on two tankers renewed concerns about supplies from the region. Brent futures rose 76 US cents, or 0.73%, to US$105.48 a barrel by 6:04am Thai time. US West Texas Intermediate crude stood at US$92.44, up 59 US cents, or 0.64%. 🛢️

The move followed a weekend escalation involving Yemen’s Iran-backed Houthis and Saudi Arabia. The Houthis claimed responsibility for a 10 Oct strike on Riyadh’s international airport that killed 13 people and injured more than 300, while Saudi authorities reported injuries after another airport attack on 11 Oct. The reported tanker attacks added a direct shipping and supply-risk dimension to the wider conflict, supporting a further risk premium in crude prices

The latest move is a new development after the earlier bulletin reported Brent’s 4.1% rise to US$104.28 amid Middle East tensions and hurricane-related supply fears. Brent is now trading above that earlier close, while the market is assessing whether attacks on regional infrastructure and shipping routes affect physical oil flows or remain contained.

The next focus is the security situation around Saudi energy infrastructure and tanker routes, along with any change in US involvement. US President Donald Trump said on 10 Oct that Washington was considering joining Saudi strikes on the Houthis. Further military action, disruption to shipping, or official supply warnings could affect crude volatility and raise costs for energy-intensive industries and transport. 📈

For India-linked markets, higher crude prices can increase import-cost pressure, while energy producers and refiners may respond differently depending on their exposure to international prices, inventories and margins. The price level and the direction of geopolitical developments remain the immediate market indicators.

Source: Nation Thailand, 12 Oct 2026

. Not investment advice. For informational purposes only.