EL7.AI
CommoditiesMedium•12 November 2026•
1 min read

Oil Jumps $3 Following Attacks on Saudi Energy Sites and Hormuz Shipping

Key Facts

1Brent crude futures rose 3.3% to settle at $95.82 per barrel following attacks on Saudi oil facilities.
2Attacks targeted a Saudi East-West pipeline pumping station, a facility in Yanbu, and an Aramco building in Riyadh.
3Iranian military reports indicated four oil tankers were hit by explosions in the Strait of Hormuz.

Brent crude futures rose 3.3% to settle at $95.82 per barrel on November 12, 2026, following attacks on Saudi oil facilities. The Business Times reported that the attacks targeted a Saudi East-West pipeline pumping station, a facility in Yanbu, and a Saudi Aramco building in Riyadh, while Iranian military reports indicated four oil tankers were hit by explosions in the Strait of Hormuz.

The escalation of physical attacks on energy infrastructure and shipping lanes has reintroduced a significant risk premium to oil prices, offsetting previous bearish trends. Market volatility was further influenced by reports of drone strikes on Russian energy infrastructure, even as Opec+ data showed crude production rose in October driven by higher Saudi Arabian output.

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