On Monday, September 14, global oil prices posted a marked rally. The upward move was triggered by two nearly simultaneous factors: new strikes by Yemen's Houthis on Saudi Arabian territory and reports of attacks on vessels in the waters of the Persian Gulf. At the market open, Brent crude futures gained more than 3%, and during the main trading session they firmed by $2.90, or 2.77%, to $107.51 per barrel. WTI crude rose by $2.27 (2.27%) to reach $102.32 per barrel.

Price movement at the open

According to the publication, the initial price spike of more than 3% was already evident at the start of trading, indicating high nervousness among market participants and a willingness to pay a premium for insurance against supply disruptions. Brent holding above the $100 mark amid ongoing incidents around key maritime oil-transport arteries reinforces the geopolitical risk premium, which in recent weeks has become the dominant driver of "black gold" prices.

Houthi strikes on southern Saudi Arabia

The direct trigger for the new rally was Sunday, when Saudi state media published footage of damage to residential buildings and a mosque, allegedly caused by a Houthi attack on the southern Jazan province. In parallel, the Yemeni rebels claimed to have struck a Saudi military base in the neighboring province. Such statements and the published footage, even if their independent verification is difficult, are traditionally read by the market as a signal of escalation and of the parties' readiness to expand the geography of their strikes.

Incident in the Strait of Hormuz

Additional pressure on prices came from a report by the UK Maritime Trade Operations (UKMTO) agency, published on Sunday: a vessel in the Strait of Hormuz was hit by a projectile, causing a fire and forcing the crew to evacuate. The Strait of Hormuz remains one of the narrowest and most critical chokepoints in global oil-transport logistics, so any incident involving a tanker in these waters is automatically read by traders as a threat to the physical flow of oil and, consequently, as an argument in favor of higher prices.

Contradictory data

Fact-checking revealed discrepancies in the exact price levels across sources. The base article cites Brent at $107.51 per barrel and WTI at $102.32. At the same time, interfax.ru reports Brent rising to $105.28 per barrel, while overclockers.ru describes the move as a "jump to nearly $100." The difference in figures may be explained by different points in time at which prices were captured during the trading session, differences in publication timing, or the use of different calculation bases. The direction of the move (a rise above $100) is, however, unanimously confirmed by all sources.

Market context

The combination of factors — strikes on the territory of one of the largest oil exporters and a vessel incident in a narrow strait — forms a classic "risk premium" picture. As long as the parties show no signs of de-escalation and maritime security in the Persian Gulf remains in question, it is difficult for prices to return to pre-escalation levels. In such conditions, investors and analysts are accustomed to rely not on isolated statements but on confirmed incidents and data on the actual state of shipping, since it is these that determine the real risk of supply disruptions.