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Oil Gains as Middle East, Russia Hostilities Imperil Flows

Bloomberg Markets Wednesday 14 October 2026, 20:54 UTC 1 min read
Key Points

Oil gained Wednesday as hostilities intensified from Russia to the Middle East, threatening supply flows that only recently recovered to near pre-war levels. Brent traded above $106 after Iran-backed Houthi rebels launched missile and drone strikes across Saudi Arabia, including a hit that damaged Saudi Aramco’s headquarters. That added to an escalation in Iranian attacks on tankers in the Strait of Hormuz that’s threatening a rebound in Gulf supply.

Oil gained Wednesday as hostilities intensified from Russia to the Middle East, threatening supply flows that only recently recovered to near pre-war levels. Brent traded above $106 after Iran-backed Houthi rebels launched missile and drone strikes across Saudi Arabia, including a hit that damaged Saudi Aramco’s headquarters. That added to an escalation in Iranian attacks on tankers in the Strait of Hormuz that’s threatening a rebound in Gulf supply. We discuss the latest energy headlines with Rob Barnett, Senior Energy Analyst for Bloomberg Intelligence. (Source: Bloomberg)
Middle East (LOCATION) Russia (LOCATION) the Middle East (LOCATION) Brent (PERSON) Iran (LOCATION) Houthi (ORG) Saudi Arabia (LOCATION) Saudi Aramco’s (ORG) Iranian (ORG) the Strait of Hormuz (LOCATION) Gulf (LOCATION) Rob Barnett (PERSON) Senior Energy Analyst (ORG) Bloomberg Intelligence (ORG) Bloomberg (PERSON)
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