Global oil prices surged during trading on Thursday (November 12, 2026), as intensified attacks on Saudi Arabia’s energy infrastructure and shipping disruptions in the Strait of Hormuz reignited concerns regarding global supply.
Brent crude futures rose 2.63%, or $2.44, to reach $95.20 per barrel, while West Texas Intermediate (WTI) climbed 1.92% to $88.19 per barrel. Despite this, both oil benchmarks remain on track for a weekly decline of approximately 3%, reflecting high volatility driven by shifting geopolitical sentiment.
The Iran-aligned Houthi group claimed to have attacked a pumping station on Saudi Arabia’s East-West oil pipeline, as well as energy facilities in Yanbu, along the Red Sea coast. The group also asserted that it targeted a Saudi Aramco building in Riyadh, though there has been no immediate confirmation from the Saudi government. Attacks on energy infrastructure are particularly concerning, as the East-West pipeline serves as a vital alternative route for oil shipments, allowing for the bypass of the Strait of Hormuz.
Meanwhile, the Iranian military reported that four oil tankers experienced explosions in the Strait of Hormuz after disregarding warnings—a claim that has yet to be independently verified. Supply tensions were further exacerbated by reports from Ukraine regarding a drone strike on the Ust-Luga port area in Russia, which resulted in a fire and damage to fuel storage facilities.
This series of incidents has heightened anxieties surrounding global energy distribution, prompting the market to closely monitor the security of oil shipping routes and the potential for an escalation of conflict in the Middle East.
Source: Newsmaker.id