Oil prices hit 6-week high after Houthi attack on Saudi Arabia

CommodityGeopoliticsMacro Impact 4
โดย Business Today·SA·Read original
Summary · why it matters

WTI and Brent crude oil prices surged to their highest levels in six weeks after Houthi attacks on areas and energy infrastructure in Saudi Arabia, which injured more than 70 people and heightened concerns about Middle East oil supply. West Texas Intermediate crude traded on September 8 at $93.03 per barrel, up $1.55, while Brent was at $97.92 per barrel, up $0.92. Thai Oil PCL's oil price analysis unit noted that the incident increases the risk that attacks could expand from the Strait of Hormuz to energy infrastructure and oil transport routes in other areas. If the conflict escalates, it could affect oil supply and pressure the global economy through higher energy costs. Meanwhile, major financial institutions have begun to raise their oil price forecasts. Goldman Sachs raised its Brent and WTI forecasts for December 2026 by $5 to $85 and $80 per barrel, respectively, and its 2027 forecasts to $80 and $75. HSBC raised its average Brent forecasts for 2026 and 2027 to $90 and $85 per barrel. On the U.S. labor market front, August data came in stronger than expected, with employment rising by 162,000 jobs versus expectations of 56,000, and the unemployment rate holding at 4.1%. This led investors to increase expectations that the Fed may raise interest rates by 0.25% at its September 15-16 meeting. Meanwhile, Trump discussed with Putin ending the Russia-Ukraine war, which could pave the way for Russia to export more energy, but in the short term the market remains focused on Middle East risks.

Impact on stocks 5

Financials▲ · 2 stocks
Goldman Sachs Group Inc
GS
± MixedCapitalrelevance

Goldman Sachs raised its Brent and WTI oil price forecasts for 2026-2027, an analyst forecast revision rather than a direct trading impact.

HSBC Holdings PLC
HSBA
± MixedCapitalrelevance

HSBC raised its average Brent forecasts for 2026 and 2027, an analyst forecast revision rather than a direct trading impact.

Energy Transition & Power Demand▲ · 1 stocks
Thai Oil Public Company Limited
TOP
± MixedSupplyrelevance

Thai Oil's analysis unit noted the Houthi attack raises risk of supply disruption expanding to energy infrastructure and transport routes.

Others▲ · 2 stocks

Theme Impact 2

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