Oil prices rise as Houthi attacks on Saudi Arabian refinery raise supply worries

A pumpjack operates outside of Midland, Texas, US, on Thursday, Oct. 15, 2026. Eli Hartman | Bloomberg | Getty ImagesOil prices climbed Wednesday as investors weighed the prospect of a prolonged and widening Middle East conflict after Tehran-backed Houthis attacked Saudi Arabia's largest refinery. International benchmark Brent crude futures rose $1.50, or 1.32%, to $115.59 per barrel, while U.S. West Texas Intermediate crude futures gained $1.47, or 1.47%, to $101.37 per barrel.The Houthis said on Tuesday they had attacked Saudi Arabia's Ras Tanura refinery with a ballistic missile, raising worries of an escalation in the regional conflict.Trump, meanwhile, said that the war with Iran would end on his terms, while insisting that Tehran must be prevented from acquiring nuclear weapons.Speaking at a campaign rally in Texas on Tuesday, Trump said the conflict could be brought to a swift conclusion but stressed that any agreement must ensure Iran would never possess a nuclear weapon.Stock Chart IconStock chart iconOil prices since the start of the yearHis remarks followed earlier comments that he was weighing whether to reach a deal with Tehran or pursue further military action, keepin...