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Oil prices rise over Middle East conflict fears after Houthi attack on Saudi refinery

Market News
28 Oct 2026, 08:52 WIB
CNBC
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Bullish
Oil prices rise over Middle East conflict fears after Houthi attack on Saudi refinery

Oil prices increased sharply as investors reacted to the possibility of a prolonged conflict in the Middle East following a ballistic missile attack by Tehran-backed Houthis on Saudi Arabia's largest refinery. Brent crude rose to $115.59 per barrel and U.S. West Texas Intermediate to $101.37 per barrel amid concerns about oil supply disruptions. Former President Trump stated the war with Iran would end on his terms, emphasizing the need to prevent Iran from obtaining nuclear weapons, adding to geopolitical tensions. Meanwhile, Israel's election results suggest a political deadlock, complicating the region's stability and its approach toward Iran, keeping traders cautious about future developments.

Oil prices and Middle East tensions provide context for Pluang's Energy sector data. For readers following energy stocks, here is Pluang's market snapshot as of Oct 28, 2026 11:21 WIB: Among 79 priced Energy-sector US stocks, 33 rose and 46 fell. Notable movers include PSX (Phillips 66) at USD 268.66 with a 1-day change of -6.99% and Pluang order activity of 76% Sell / 24% Buy, RRC (Range Resources Corporation) at USD 56.85 up 6.12% with 100% Sell orders, and NXE (Nexgen Energy Ltd.) at USD 8.80 up 5.64%. Typical hold times vary from 2 to 63 days.

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