{
  "id": 9620432,
  "title": "Oil prices settle up about 3% as Houthi attack on Saudi Arabia lifts supply fears",
  "url": "https://urgent.news/2026/09/24/oil-prices-settle-up-about-3-as-houthi-attack-on-saudi-arabia-lifts-9620432",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-24T15:57:57.000Z",
  "source": {
    "name": "CNA - Business",
    "slug": "cna-business",
    "url": "https://www.channelnewsasia.com/business/oil-prices-settle-up-about-3-houthi-attack-saudi-arabia-lifts-supply-fears-6408881"
  },
  "original_language": "en",
  "account": "Oil prices surged nearly 3% on Thursday, reaching a weekly peak, after a Houthi missile strike on Saudi Arabia reignited concerns about potential supply interruptions. However, market activity remained uncertain, with prices retracting from their peak after disclosures that the US and Iran were discussing the reopening of the Strait of Hormuz. Brent futures rose by $3.52, or 3.4%, to settle at $106.60 per barrel. US West Texas Intermediate crude increased by $2.45, or 2.7%, to settle at $94.61. Both contracts hit session highs of approximately 5% increase. Brent recorded its highest close since September 15 and marked the first upward movement for WTI in six sessions. Saudi Arabia intercepted six ballistic missiles launched by Iran-backed Houthis, averting attacks on the southern province of Taif and the Red Sea area of Yanbu, according to the Saudi-led coalition in Yemen.\n\nIranian airlines were prohibited from flying in countries like the UAE and Oman due to new US sanctions, marking the initial significant fallout of the US policy shift targeting companies dealing with Iran. In response, Iran warned of retaliation against neighboring nations complying with the US ban on its flights by making their airports unusable. Meanwhile, Saudi Arabia is increasing crude production volumes through its East-West Pipeline leading to the Red Sea export hub of Yanbu, although tanker loadings have yet to resume based on industry sources, satellite imagery, and shipping data.\n\nU.S. and Iranian negotiators in New York are exploring a phased resolution to the nearly seven-month US-Iran conflict, involving Iran's reopening of the Strait of Hormuz and Washington lifting its economic blockade of Iran, according to sources familiar with the negotiations. The Strait of Hormuz has emerged as the central focus in efforts to end the ongoing dispute. Iran seeks relief from the US blockade impacting its economy, while the US aims for unhindered passage of ships through the global oil supply route currently blocked by Tehran. Neither side is willing to cede its leverage, as reported by Iranian, regional, and Western diplomatic sources to Reuters.\n\nSeparately, diesel prices have reached record highs in recent weeks due to supply disruptions, leading to ongoing dialogues between the European Union and the US. The US reportedly plans to ban diesel exports, a move the EU believes could negatively impact both parties. Global diesel supplies are tight due to Moscow's ban on exports following Ukrainian attacks on Russian refineries and energy infrastructure, compounded by Iranian attacks on ships and energy infrastructure in the Middle East. US Energy Secretary Chris Wright has consulted American refiner executives about potential voluntary restrictions on diesel exports, as the administration explores alternatives to a short-term ban, contrary to reports suggesting a 90-day diesel export ban ahead of the November midterm elections. Critics argue that such a ban would have limited impact on high energy prices and potentially exacerbate global supply issues, further destabilizing economies.",
  "summary": null,
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 4,
    "also_reported_by": [
      {
        "outlet": "Channel News Asia",
        "title": "Oil prices settle up about 3% as Houthi attack on Saudi Arabia lifts supply fears",
        "url": "https://urgent.news/2026/09/24/oil-prices-settle-up-about-3-as-houthi-attack-on-saudi-arabia-lifts",
        "published": "2026-09-24T15:57:57.000Z"
      },
      {
        "outlet": "Investing.com",
        "title": "Oil prices settle up about 3% as Houthi attack on Saudi Arabia lifts supply fears",
        "url": "https://urgent.news/2026/09/24/oil-prices-settle-up-about-3-as-houthi-attack-on-saudi-arabia-lifts-9619790",
        "published": "2026-09-24T19:49:06.000Z"
      },
      {
        "outlet": "The Business Times - Companies & Markets",
        "title": "Oil prices settle up about 3% as Houthi attack on Saudi Arabia lifts supply fears",
        "url": "https://urgent.news/2026/09/24/oil-prices-settle-up-about-3-as-houthi-attack-on-saudi-arabia-lifts-9635351",
        "published": "2026-09-24T22:04:09.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}