Latest Oil Market News and Analysis for Oct. 23

Markets Iran-backed Houthi rebels in Yemen step up their attacks on Saudi Arabia.Source: Bloomberg Contact us:Provide news feedback or report an error Confidential tip?Send a tip to our reporters Site feedback:Take our Survey By Kanoko Matsuyama and Alex Longley October 22, 2026 at 10:08 PM UTC Updated on October 23, 2026 at 12:48 PM UTC Takeaways by Bloomberg AI Brent oil was trading at the highest level since May as attacks on Saudi Arabia intensified and the war with Iran remained unresolved. The global benchmark traded around $115 a barrel on Friday, up almost 4% this week, while West Texas Intermediate was above $100. Iran-backed Houthi militants claimed recent attacks on the Saudi Red Sea port of Yanbu , as well as deadly strikes on an oil field and airport in the kingdom.