The price of main international oil contract, Brent North Sea, soared five per cent Thursday after Houthi rebels claimed to have struck two Saudi oil tankers in the Red Sea.

Brent reached 98.80 a barrel while main United States contract, West Texas Intermediate, rallied 3.8 per cent to 90.11 a barrel, as the attacks potentially opened a new front in the Middle East war.

The attacks occurred near the Yemeni port of Hodeidah, a strategic location along the Red Sea shipping corridor that serves as a vital artery for global energy trade.

Saudi Arabia confirmed that at least one of its tankers was hit in the assault, prompting the state oil giant Saudi Aramco to temporarily suspend some shipments through the vital waterway.

The targeted vessels were identified as the Saudi-flagged Amjad and the crude tanker Al-Mashqab, both carrying oil exports when they came under attack.

This marked the first successful strike on Saudi oil infrastructure since 2019, raising alarms across global energy markets about the security of Middle East supply routes.

The Red Sea serves as a critical chokepoint for global commerce, with approximately 12 percent of all seaborne oil trade passing through the narrow Bab el-Mandeb strait at its southern entrance.

The Houthi assault came in retaliation for Israeli airstrikes on rebel targets in Yemen, further complicating the already tense regional security landscape.

Analysts warned that the strikes could disrupt shipments from one of the world’s largest oil exporters, forcing buyers to seek alternative supplies at higher costs.

The United States swiftly condemned the attacks and vowed to hold the Houthis accountable, as Washington monitors threats to commercial shipping in the region.

Energy traders reacted immediately to the news, driving benchmark crude contracts to their highest levels in months amid fears of prolonged supply disruptions.

Market participants now worry that the Red Sea could become a sustained battleground, threatening the stability of global oil flows at a time when inventories remain tight worldwide.