Brent Crude Price at $104: Bull and Bear Case After Houthi…
By Tobi Opeyemi Amure
AI summary of the source article
Brent crude traded near $104 a barrel on 12 October following weekend strikes on Riyadh's airport and a tanker off Oman. Price gains were offset by an announced Russia-Ukraine energy ceasefire and expected Russian diesel supplies.
Why it matters
For tanker strikes near Hormuz, "Each new incident pushes up freight and insurance costs, and a run of them is what turns a risk premium into a supply loss."
Key facts
- Brent crude traded near $104 a barrel on 12 October after touching $105.48 over the weekend.
- Houthi forces struck King Khalid International Airport in Riyadh, and an uncrewed aerial vehicle hit a tanker near Oman's Sohar anchorage.
- An energy ceasefire and US sanctions easing through 7 April were announced to allow Russian diesel to enter global markets.
Source excerpt · FinanceFeeds
Updated 12 October 2026. Brent crude traded around $104 a barrel on Monday 12 October, after giving up a weekend jump to $105.48. Trading Economics showed Brent near $104 on the day, with an intraday dip toward $103, and Commerzbank noted it fell 1.1 percent below $104 in early Asian trading. The move follows Friday's $104.72 close. Verdict: the Houthi strikes on Riyadh's airport and a drone hit o…