Oil nears $115 as the Saudi attacks deepen inflation fears and U.S. consumer sentiment stays near a record low

Brent crude reached $115.16 today, its highest level since May 4, after Houthi attacks in Saudi Arabia and a reported oil spill off the UAE raised concerns about supply disruption. Saudi Aramco had ordered the evacuation of its Dhahran headquarters on Thursday as fighting intensified. Today’s University of Michigan survey put U.S. consumer sentiment at 48.0, near its record low, with one-year inflation expectations rising to 4.7%. The energy shock is now colliding with already fragile household confidence just ahead of the November 3 midterms.

Shipping sources report that a tanker near the UAE was struck by an unidentified projectile.
https://www.reuters.com/business/energy/oil-little-changed-supply-concern-lingers-amid-houthi-attacks-saudi-arabia-2026-10-23/

Houthi attacks intensify around Saudi energy infrastructure, and Saudi Aramco orders an evacuation of its Dhahran headquarters.
https://www.reuters.com/business/energy/oil-rises-us-orders-diplomats-leave-saudi-arabia-amid-escalating-tensions-2026-10-22/

Brent reaches $115.16 as concerns over Gulf supply disruptions fuel a third consecutive weekly rise.
https://www.reuters.com/business/energy/oil-little-changed-supply-concern-lingers-amid-houthi-attacks-saudi-arabia-2026-10-23/

U.S. consumer sentiment slips to 48.0, while expected inflation over the next year rises to 4.7%.
https://www.reuters.com/business/us-consumer-sentiment-near-record-low-ahead-midterm-elections-2026-10-23/