Oil prices jump more than $3 after new strikes on Saudi, Strait of Hormuz

Oil prices rose ​more than $3 a barrel at the market open ‌on Monday, after new strikes on Saudi Arabia ​and on ships in the Gulf ⁠on Sunday (September 13, 2026).

Brent crude futures rose $3.62, or 3.46%, to $108.23 per barrel as of 2214 GMT (Sunday). WTI futures rose $3.15, ‌or 3.15%, to $103.20 per barrel.

Saudi Arabian state media on Sunday (September 13) released video footage of ‌damage to homes and a mosque ‌from ⁠what it said was a Houthi attack ⁠on the country’s southern Jazan province. The Houthis said they had also struck a Saudi military base in a neighbouring province.

A ​vessel in the ‌Strait of Hormuz was struck by a projectile, causing a fire and forcing the crew to be evacuated, the British maritime security agency ‌UKMTO said on Sunday (September 13).

Iran said one person ​was killed and four crew wounded aboard an Iranian commercial vessel struck off ⁠its coast.

Oil prices had been expected to rise on Monday (September 14) amid growing concerns about risks to ‌supply from Saudi Arabia, the world’s largest oil exporter, whose East-West oil pipeline was shut last week by a drone strike that originated in Iraq.

“Looking ahead, unless this week’s talks in Oman produce something operational — or the East-West pipeline ‌is brought back online quickly — the risk is that crude ​oil continues to extend its gains toward the $119.48 high of early March,” IG market analyst ⁠Tony Sycamore said in a note on Sunday (September 13).

Omani ⁠Foreign Minister Badr Albusaidi said on X later on Sunday (September 13), however, that a scheduled ‌Monday (September 14) meeting in Oman between Gulf countries and Iran to discuss the Strait of ​Hormuz had been postponed.