West Texas Intermediate rose 0.9% to reach $90.21 per barrel, while Brent crude climbed 1.0% to $101.61. The Saudi General Authority of Civil Aviation confirmed that the King Abdullah bin Abdulaziz and Najran airports were hit, leaving three people wounded. Analysts at ANZ Research warn that global oil markets are operating with thin buffers and rely heavily on shrinking stockpiles, leaving little room for error if regional transit routes face further blockades.
In section Market Quotes
Middle East Strikes Push Oil Prices Past $100
Two airports in southern Saudi Arabia sustained damage from Houthi rebel strikes this week, igniting fresh concerns over energy security. As military counteroffensives escalate along the Red Sea, the threat to the Bab al-Mandeb Strait—a critical artery for global oil transit—has pushed crude prices steadily upward during Asian trading.
Financial markets across the Asia-Pacific region reacted to the volatility with broad declines. The Nikkei fell 0.8%, the Hang Seng dropped 0.5%, and the FTSE Straits Times slumped 1.4% as investors adjusted positions. Meanwhile, U.S. 10-year Treasury yields ticked up 3 basis points to 5.308%, reflecting shifting sentiment in bond markets as the geopolitical risk premium continues to reshape asset pricing.
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