Oil
Oil Prices Surge Above $111 as Houthis Strike Saudi Targets
CEII brief
OilPrice.com reported on 22 Oct 2026: Oil Prices Surge Above $111 as Houthis Strike Saudi Targets.
Read the full story on OilPrice.comCrude oil prices extended their earlier gains today, with Brent crude keeping above $111 per barrel after the latest reports from the Middle East, featuring more Houthi attacks on Saudi targets.
Context from CEII
Crude benchmarks move budgets, currencies and inflation in producer and importer countries alike. For economies such as Nigeria, where fuels dominate exports, production and refining decisions move the whole economy.
9.5% of world merchandise exports were fuels in 2025Original reporting © OilPrice.com. Headline and excerpt quoted with attribution; the full article is available on the publisher’s site. CEII’s context is the Centre’s own and does not represent the publisher.
