# Why Oil Prices Are Suddenly Jumping | Fortune

> Oil rose as traders weighed a Saudi Foreign Ministry warning that the kingdom could use crude as a political weapon in response to punishment over the disappearance of journalist Jamal Khashoggi. Futures climbed as much as 1.9% before gains eased.

- Date: 2018-10-15 · published 2018-10-15T12:00:00.000Z
- Category: geopolitics · region Global · magnitude low
- Page: https://feedsoft.ai/events/62707-why-oil-prices-are-suddenly-jumping-fortune
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

The risk of Saudi supply disruption adds a geopolitical premium to crude, which can raise energy and freight costs for feed ingredients, though analysts expected the premium to fade absent actual export changes.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2026-08-31 | [Oil prices jump 4% as fresh US-Iran fighting stokes supply fears](https://feedsoft.ai/events/18067-oil-prices-jump-4-as-fresh-us-iran-fighting-stokes-supply-fears.md) | +9.6% | +4.0% |
| 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 | 2018-07-02 | [What higher oil prices mean for OPEC and the U.S. \| Brookings](https://feedsoft.ai/events/63956-what-higher-oil-prices-mean-for-opec-and-the-u-s-brookings.md) | -0.3% | -4.5% |
| WTI | 2026-05-27 | [Canola prices are rising on forecasts of high oil prices by the end of the year.](https://feedsoft.ai/events/19358-canola-prices-are-rising-on-forecasts-of-high-oil-prices-by-the-end-of-the-year.md) | +0.7% | -16.4% |
| WTI | 2019-09-19 | [Oil prices rise as Saudi supply risks come into focus](https://feedsoft.ai/events/57239-oil-prices-rise-as-saudi-supply-risks-come-into-focus.md) | -3.0% | -8.2% |
| BRENT | 2026-08-31 | [Oil prices jump 4% as fresh US-Iran fighting stokes supply fears](https://feedsoft.ai/events/18067-oil-prices-jump-4-as-fresh-us-iran-fighting-stokes-supply-fears.md) | +10.8% | +22.9% |
| 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 | 2018-07-02 | [What higher oil prices mean for OPEC and the U.S. \| Brookings](https://feedsoft.ai/events/63956-what-higher-oil-prices-mean-for-opec-and-the-u-s-brookings.md) | -3.1% | -4.9% |

## Sources

- fortune.com: https://fortune.com/2018/10/15/saudi-arabia-jamal-khashoggi-oil-prices/

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