Oil prices rise as Houthi attacks on a Saudi refinery and Iran talks raise supply worries

Summary

Oil prices rose as investors watched Iran talks, Houthi attacks and wider Middle East tensions, with falling Gulf oil exports adding to concerns about global fuel supplies. Hindustan Times reported that prices rose over 1% after a reported Houthi attack on a Saudi refinery raised supply concerns, while US crude stocks fell and Middle East tensions persisted. CNBC reported that prices climbed on Wednesday, October 28, as Houthi attacks on a Saudi Arabian refinery raised supply worries and investors weighed the prospect of a prolonged Middle East conflict. CNBC also reported that the US reportedly told Gulf countries to prepare for Iran strikes after the midterm elections.

Timeline

1. Hindustan Times

   27 Oct 2026, 12:13 UTCSource ↗

   Hindustan Times reports that oil prices are rising as investors watch Iran talks, Houthi attacks, Middle East tensions and falling Gulf oil exports, amid concerns about global fuel supplies.

2. Hindustan Times

   28 Oct 2026, 12:01 UTCSource ↗

   Hindustan Times reports that oil prices rose over 1% after a reported Houthi attack on a Saudi refinery raised supply concerns, while US crude stocks fell and Middle East tensions persisted.

3. CNBC

   28 Oct 2026, 13:10 UTCSource ↗

   CNBC reports that oil prices climbed on Wednesday as investors weighed the prospect of a prolonged Middle East conflict, and that the US reportedly told Gulf countries to prepare for Iran strikes after the midterm elections.