CommoditiesMediumUpdated×6•Originally published 27 October 2026•Updated 28 October 2026•
1 min read
Brent Surges to $115.36 Following Missile Strike on Saudi Oil Refinery
Key Facts
1Brent settled at $113.78 a barrel on October 27, after $115.81 the previous day.
2West Texas Intermediate settled at $100.09 a barrel on October 27, after $101.76 on October 26.
3Lloyd's List Intelligence recorded 28 attacks on vessels in October, the highest number since the war began.
4The Energy Information Administration expects Brent to average $105 a barrel in the fourth quarter of 2026, an increase of $14 from the previous month's forecast.
Brent crude rose to $115.36 a barrel on October 28, 2026, after Houthi forces claimed a missile strike on Saudi Arabia's largest oil refinery. The attack triggered an immediate spike in geopolitical risk premiums, overshadowing recent US inventory data.
Brent had previously settled at $113.78 a barrel on October 27, 2026, prior to the reported strike. This escalation coincides with a surge in maritime risks, as the United Kingdom Maritime Trade Operations reported 28 attacks on commercial shipping in October, the highest monthly total since March according to Lloyd’s List Intelligence.