Brent Crude Surges Past $103 on Houthi Attack Concerns

Brent crude futures gained 81 cents to settle at $103.06 per barrel, representing a 0.79% increase and marking a fresh jump in global energy prices. US West Texas Intermediate crude also edged higher, climbing 46 cents to $91.57 per barrel, a 0.50% gain.

The price movement reflected broader market anxiety over potential supply disruptions following militant attacks attributed to Houthi forces. The Yemen-based group has repeatedly targeted Saudi Arabian oil infrastructure and shipping routes in the Red Sea region, raising concerns among traders about the stability of global crude supplies.

Geopolitical risks in the Arabian Peninsula continue to exert upward pressure on energy markets. The attacks have prompted oil markets to price in a risk premium, with investors reassessing the vulnerability of critical energy infrastructure in the region.

Energy analysts noted that while prices remain elevated, the market is closely monitoring the situation for any escalation that could trigger more significant supply disruptions. For India, which depends heavily on Middle Eastern crude imports, any sustained spike in oil prices could have implications for domestic fuel costs and inflation.