Oil Holds Above $100 as Houthi Attacks and Russia Sanctions Relief Shape the Market

Brent crude traded Tuesday near its highest level in five months, as Houthi strikes on Saudi energy targets and Trump's order easing Russia-related sanctions weighed on supply expectations.

• Brent futures traded near $110 a barrel after reaching $110.70 in the prior session, its highest level since May 20.
• The Houthis said Monday they struck energy facilities and airports across Saudi Arabia, including an Aramco site in Yanbu and the Shaybah oil field; Saudi officials have not confirmed.
• A Houthi attack on a government security training camp in Shabwa, Yemen, killed 58 people and wounded more than 200.
• Trump issued an executive order Friday lifting US sanctions and tariffs tied to Russian oil and gas purchases, though he said Saturday no final decision had been made.
• IEA chief Fatih Birol said global energy markets will not normalize in 2027, citing potential Strait of Hormuz closure and Houthi attacks.