Amid new fears and concerns over potential disruptions to energy exports from the Middle East, global oil prices experienced a notable surge on Tuesday, October 20, 2026.

The price increases came immediately after reports emerged regarding attacks on ships in the Gulf region. Concurrently, the Houthis officially claimed to have struck several targets within Saudi Arabia directly linked to the energy sector, airports, and military bases.

According to today's oil market statistics:

  1. Brent Crude: Rose by 55 cents (a 0.5% increase), reaching $110.10 per barrel.
  2. US West Texas Intermediate (WTI): Increased by 0.24%, trading at $103.91 per barrel.

Furthermore, Kpler, a company specializing in tracking ship movements, revealed that in the past two weeks alone, at least 18 ships have been subjected to attacks in the region. These incidents have been the primary reason geopolitical risks remain highly elevated in global markets.

Interestingly, despite US President Donald Trump easing some sanctions and tariffs on Russia, energy market traders remain primarily focused on the risks of recurring attacks on the energy infrastructure in the Gulf region.