Brent Nears $100 Following Strikes on Saudi Energy Facilities

01:19 PM EDT, 09/08/2026 (MT Newswires) -- Brent crude futures rose close to the $100 mark on Tuesday after attacks on Saudi Arabian energy facilities prompted temporary production shutdowns. Brent rose 0.6% to $97.56 a barrel in Tuesday trade, having hit an intraday high of $99.46. West Texas Intermediate was up 0.9% at $92.36 a barrel, partially giving up gains that propelled it to as high as $94.73 earlier in the day. Oil prices are up so far in September following two consecutive monthly gains as tensions between the US and Iran escalated. Yemen's Iran-allied Houthi group struck civilian and economic sites in Saudi Arabia, injuring 73 people, the kingdom's Ministry of Foreign Affairs said Tuesday. The attacks sparked fires at several energy facilities, prompting a temporary halt to operations, the Saudi Energy Ministry. The Houthi group targeted Saudi Aramco's facilities across Abha, Najran, and Jazan, Bloomberg News reported, citing the group's military spokesperson. The attacks were in retaliation to Saudi strikes in northwestern Yemen, BBC reported, citing the Houthis. US Central Command said Saturday that its forces targeted three Iranian oil tankers on Saturday in response to Tehran firing ballistic missile at two American Navy warships. "Oil surged nearly 10% last week as renewed US-Iran clashes, including US strikes on Iranian tankers and attacks on ships and military targets around Hormuz, stoked supply fears," Saxo Bank said in a note Tuesday. Iran said its nearing a deal with Oman to establish a temporary shipping corridor in the Strait of Hormuz, according to media reports. "Tehran also warned that vessels face the risk of attack near Oman, highlighting the continued uncertainty surrounding regional shipping and supply flows," Saxo Bank said.