INDYFINANCE
2026-10-13 UTC
 
MARKET REPORTBULLISH

Oil Holds Near Multi-Month Highs After Saudi-Led Strikes on Houthi Targets

Brent sat at $105.90 and WTI tested $94.66 resistance after Trump accused Iran-backed Houthi militants of trying to push oil prices higher ahead of the US midterms.

GeopoliticsEnergyShipping & LogisticsBZCL
Executive takeaway

Brent crude traded at $105.90 and WTI pressed against $94.66 resistance after a Saudi-led coalition struck Houthi targets in Yemen's capital.

Newsroom graphic
Brent and WTI Compress Near Multi-Month Highs. Both benchmarks have traded in a tight range near recent highs, with WTI pressing against Fibonacci resistance at $94.66 as traders weigh further escalation around the Yemen strikes.

Brent and WTI Compress Near Multi-Month Highs

Both benchmarks have traded in a tight range near recent highs, with WTI pressing against Fibonacci resistance at $94.66 as traders weigh further escalation around the Yemen strikes.

Live Brent (BZ=F) and WTI (CL=F) prices.

Use this chart

Free to embed with attribution:

<figure><a href="https://www.indy.finance/news/oil-holds-near-multi-month-highs-after-saudi-led-strikes-on-houthi-targets"><img src="https://www.indy.finance/news/oil-holds-near-multi-month-highs-after-saudi-led-strikes-on-houthi-targets/graphic.svg" alt="Brent and WTI Compress Near Multi-Month Highs" width="1200" height="675"></a><figcaption>Brent and WTI Compress Near Multi-Month Highs — <a href="https://www.indy.finance/news/oil-holds-near-multi-month-highs-after-saudi-led-strikes-on-houthi-targets">Indy Finance</a></figcaption></figure>
Brent crude was coiling in a tight range at $105.90 while WTI tested Fibonacci resistance at $94.66 after a Saudi-led coalition carried out strikes on Houthi targets in Yemen's capital. President Trump accused Iran-backed Houthi militants of deliberately trying to drive up oil prices ahead of the US midterm elections. The strikes add a fresh geopolitical premium to crude markets that have already been sensitive to disruptions in shipping lanes near Yemen and the Red Sea. Both benchmarks remain compressed near recent highs, suggesting traders are waiting for signs of further escalation or de-escalation before committing to a direction. What is unresolved is whether the strikes mark an isolated response or the start of a broader campaign that could further threaten regional oil infrastructure or shipping routes.
What would change this view

This bullish framing would be undercut if Brent falls back below $105 or if no further Houthi retaliation materializes within the next week.

Wire sources cited

Produced automatically by the INDY NEWS Desk from the public wire sources cited above, and checked against them before publication. Market commentary, not investment advice.