EL7.AI
CommoditiesHigh ImpactUpdated•Originally published 13 September 2026•Updated 13 September 2026•
2 min read

Brent Jumps 3.46% to $108.23 as Saudi and Hormuz Incidents Raise Supply Risks

Key Facts

1Brent rose $3.62, or 3.46%, to $108.23 a barrel, while WTI gained $3.15, or 3.15%, to $103.20.
2Brent closed at $104.61 on September 11, 2026, within a range of $103.48 to $110.19.
3Saudi Arabia said on September 11, 2026, that the East-West pipeline had been shut as a precaution after attacks on the morning of September 10, 2026.

Brent crude futures jumped $3.62, or 3.46%, to $108.23 a barrel when Monday trading opened, while West Texas Intermediate WTI rose $3.15, or 3.15%, to $103.20. The move followed new attacks in Saudi Arabia and on a vessel in the Strait of Hormuz.

Saudi state media published images of damage to homes and a mosque in Jazan from what it described as a Houthi attack. In a separate incident, UK Maritime Trade Operations UKMTO said a projectile struck a vessel transiting the Strait of Hormuz, causing a fire and forcing the crew to evacuate.

The developments followed a Saudi Energy Ministry announcement on September 11, 2026, that the East-West pipeline had faced multiple attacks in the Riyadh and Madinah regions on the morning of September 10, 2026. The pipeline was shut as a precaution, injuries were reported, and emergency teams began securing it and checking its safety.

The East-West pipeline provides an alternative route for Saudi crude exports to the Red Sea when navigation through the Strait of Hormuz is disrupted. The market therefore repriced supply risk quickly, although the official statement did not quantify affected exports or provide a restart date.

EL7's authoritative market context shows that Brent closed at $104.61 on September 11, 2026, after trading between $103.48 and $110.19. The opening jump lifted the benchmark back above $108, while leaving it below the previous session's $110.19 high.

US crude inventories in the API release fell by 0.3 million barrels on September 9, 2026, compared with a forecast decline of 1.3 million barrels and a previous decline of 2.6 million barrels. The smaller-than-expected draw offers only limited support for the supply-tightness narrative.

Traders will next focus on the official damage assessment for the East-West pipeline, its restart timing and vessel security in the Strait of Hormuz. Until the actual affected volumes are established, the jump reflects a higher price for disruption risk rather than proof of a confirmed supply loss.