Oil Surges 2% After New Strikes on Saudi Arabia, Strait of Hormuz
Reuters reports crude climbed more than 2% on September 13 after new strikes hit Saudi Arabia and the Strait of Hormuz region escalated, following an earlier naval attack off Oman.
Developing story — this page will be updated as information becomes available.
DEVELOPING
Crude oil prices climbed more than 2 percent on September 13 after Reuters reported new strikes hit Saudi Arabia and military activity was again escalating in the Strait of Hormuz, adding fresh pressure to energy markets still absorbing an earlier naval attack in the same waterway.
What We Know
Reuters reported crude futures rose more than 2 percent following what the wire described as new strikes on Saudi Arabia alongside continued Strait of Hormuz activity. The precise origin and specific targets of those strikes were not independently confirmed at publication time.
Earlier on September 13, India’s Ministry of External Affairs confirmed that 13 crew members had been rescued and one remained missing after a vessel was attacked off the coast of Oman in the Strait of Hormuz, as reported by Anadolu Agency. That incident is covered in full at Vessel Attacked in Strait of Hormuz, One Crew Member Missing.
The Houthi movement said Saudi Arabia had launched more than 50 strikes against Houthi positions in the preceding 24 hours, according to Middle East Eye. Houthi-affiliated media separately reported two Saudi strikes on Saada, in northern Yemen, a Houthi stronghold. Tehran Times reported Houthi-aligned forces had cleared Saudi-backed troops from roughly 5,400 square kilometers of western Yemeni territory.
What We Don’t Know
The nature of the strikes on Saudi Arabia referenced by Reuters has not been confirmed beyond the market wire. It is not yet known whether the strikes targeted Saudi oil infrastructure, military positions, or other assets, or which group carried them out. This story is developing and details are expected in subsequent reporting.
Context
The Strait of Hormuz is the world’s most critical oil chokepoint, carrying roughly one-fifth of globally traded crude. Even modest confirmed military activity near the strait tends to move energy prices quickly, as traders price in supply disruption risk before the full picture emerges. The 2 percent gain is below the threshold of a major supply shock but reflects a market that is already on edge.
The Saudi-Houthi conflict has intensified sharply in recent days. Iran-backed Houthi forces have continued expanding operations both inside Yemen and at sea, while Saudi Arabia has responded with sustained airstrikes. Any escalation that draws in Saudi oil infrastructure or threatens Hormuz transit puts global crude supply directly in play.
What to Watch
- Confirmation from Saudi Aramco, the Saudi government, or U.S. CENTCOM identifying who launched the strikes on Saudi Arabia and what was hit.
- Whether crude prices extend the 2 percent gain as Asian markets open and trading volumes increase, suggesting the market is treating this as a sustained rather than temporary shock.
- Updates on the crew member still missing from the vessel attacked earlier in the Strait of Hormuz.
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