# Oil Prices Jump 2% on Saudi Attacks as OPEC Sees Demand Rebound

> Oil rose about 2% on Monday, with Brent at $106.80 and WTI at $93.78, after a weekend of Houthi strikes on Saudi Arabia and tanker attacks near the Strait of Hormuz. Goldman Sachs raised its December Brent forecast to $90 and OPEC cut its 2026 demand growth estimate to 400,000 bpd.

- Date: 2026-10-11 · published 2026-10-11T12:00:00.000Z
- Category: geopolitics · region Middle East · magnitude medium
- Page: https://feedsoft.ai/events/17243-oil-prices-jump-2-on-saudi-attacks-as-opec-sees-demand-rebound
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Renewed attacks on Gulf shipping threaten the recovery in exports, while weaker OPEC demand growth partly offsets the supply premium.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2019-09-16 | [Oil prices jump as attack on Saudi plant jolts supply \| AP News](https://feedsoft.ai/events/5706-oil-prices-jump-as-attack-on-saudi-plant-jolts-supply-ap-news.md) | +6.6% | -0.3% |
| BRENT | 2020-05-11 | [Saudi Arabia deepens oil cuts as weak demand weighs on prices](https://feedsoft.ai/events/53030-saudi-arabia-deepens-oil-cuts-as-weak-demand-weighs-on-prices.md) | +15.8% | +46.8% |
| BRENT | 2021-03-07 | [Oil price rises above $70 after attacks on Saudi oil facilities](https://feedsoft.ai/events/48297-oil-price-rises-above-70-after-attacks-on-saudi-oil-facilities.md) | -0.9% | -9.6% |
| BRENT | 2022-08-29 | [Oil prices climb on OPEC supply cut prospect, rise in demand](https://feedsoft.ai/events/40197-oil-prices-climb-on-opec-supply-cut-prospect-rise-in-demand.md) | -7.9% | -15.7% |
| BRENT | 2019-09-16 | [Attack On Saudi Oil Facilities Makes Oil Prices Spike : NPR](https://feedsoft.ai/events/6929-attack-on-saudi-oil-facilities-makes-oil-prices-spike-npr.md) | +6.6% | -0.3% |
| WTI | 2019-09-16 | [Oil prices jump as attack on Saudi plant jolts supply \| AP News](https://feedsoft.ai/events/5706-oil-prices-jump-as-attack-on-saudi-plant-jolts-supply-ap-news.md) | +5.8% | -0.1% |
| WTI | 2020-05-11 | [Saudi Arabia deepens oil cuts as weak demand weighs on prices](https://feedsoft.ai/events/53030-saudi-arabia-deepens-oil-cuts-as-weak-demand-weighs-on-prices.md) | +19.0% | +54.4% |
| WTI | 2021-03-07 | [Oil price rises above $70 after attacks on Saudi oil facilities](https://feedsoft.ai/events/48297-oil-price-rises-above-70-after-attacks-on-saudi-oil-facilities.md) | -0.7% | -11.2% |

## Sources

- oilprice.com: https://oilprice.com/Latest-Energy-News/World-News/Oil-Prices-Jump-2-on-Saudi-Attacks-as-OPEC-Sees-Demand-Rebound.html

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.