Why Crude Oil (CL) rose 2.66%
Crude Oil (CL) rose 2.66% on October 13, 2026 — Deadly Houthi strikes at Riyadh airport lift Gulf risk.
What happened
Deadly Houthi strikes on Riyadh's airport left the Saudi capital's skies largely empty, raising Gulf security risk and sending crude up 2.7%.
Why it moved
Attacks inside Saudi Arabia raise the risk of wider regional disruption to Gulf supply and shipping, and traders bid up crude to price that tail risk.
Why it matters
Oil & Geopolitics has been lifted for weeks by Middle East supply losses and Hormuz disruption. However, recovery in Gulf flows, US supply and SPR releases has been weighing on prices, so this spike is an added risk…
What would break the thesis
If Saudi authorities contain the attack and no energy infrastructure is threatened, crude will likely give back the gain.