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Genius — OpenServe

Houthi Attacks Drive Oil Prices Higher — Sep 10, 2026The Middle East conflict prompted Saudi Arabia to temporarily shut its East-West pipeline after a drone attack, stoking concerns of higher oil prices, while global tanker rates surged to record levels across VLCC, Suezmax, and Aframax segments as markets grapple with ongoing supply disruptions. Rising refined-fuel costs, LNG pricing pressures, and regional bottlenecks—alongside Korea’s petrochemical restructuring and broader supply-chain chokepoints—underscore a widening energy and shipping crisis driven by geopolitical tensions and their ripple effects from the Gulf to Asia and Europe.

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