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Oil tops $110 after Houthi strikes on Saudi Arabia's Shaybah field and Dammam airport

Brent crude rose to its highest since May after a deadly drone strike near Saudi Aramco's Shaybah oilfield and an attack on Dammam's airport, on top of the Iran-war risk at Hormuz.

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On 21 October, debris from a drone intercepted by Saudi air defences fell near a processing plant at Aramco's Shaybah oilfield, killing two people and injuring two. The Saudi Energy Ministry said operations were unaffected. Shaybah produces about 1 million barrels of crude a day.1The National3The Business Standard (UNB)

Hours later, an attack hit King Fahd International Airport in Dammam; Saudi Arabia's civil aviation authority said two people were killed and eight injured, though some early reports said one. The National reports that flows on the East-West pipeline, a route of about 7 million barrels a day that bypasses Hormuz, were reportedly halted on 5 October after a Houthi strike on a pumping station.1The National2The National

Brent was up 2.4% at $111.40 by 06:00 GMT on 22 October, and AP later put it 2.6% higher at $111.66, a five-month high. AP also reported Iran's claim that seven oil tankers were on fire or damaged, which has not been independently confirmed.3The Business Standard (UNB)4Associated Press (via BNN Bloomberg)

State Department spokesman Tommy Pigott said non-emergency US government employees and their families were ordered to leave Saudi Arabia only, calling reports of a Gulf-wide order inaccurate.2The National

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Separate stories that sources connect to this one.

  1. Deadly attack on Saudi airport in Dammam as US orders staff out of Saudi ArabiaAn attack on King Fahd International Airport in Dammam killed two people and wounded eight, Saudi authorities said, after the US ordered non-emergency staff to leave Saudi Arabia over Houthi threats.The National
  2. AI stocks slide worldwide as Kospi, Nikkei and Hang Seng fall about 3%Tech and AI shares fell from Seoul to New York on worries about expensive borrowing for AI build-outs and stretched valuations; Lam Research and Meta fell after their earnings.Associated Press (via BNN Bloomberg)
  3. Iran's Revolutionary Guard says it hit seven ships near Hormuz and threatens US basesIran's IRGC navy said it struck four vessels it accused of illegal oil transfers and that three more hit mines, pushing Brent crude above $110, while warning that US bases could be targeted.Associated Press (via BNN Bloomberg)
  4. Sensex falls for a third day as crude tops $110 and RBI minutes rule out near-term rate cutsThe Sensex lost 460 points and the rupee weakened to 94.81 per dollar as Brent crude rose above $110, a day after RBI minutes signalled the next move can only be a hike or a pause.HDFC Sky

More from Saudi Arabia

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Sources

  1. 1
  2. 2
    US pulls diplomats from Saudi Arabia but denies wider Gulf withdrawalThe National 22 October 2026thenationalnews.com
  3. 3
    Oil jumps as drone attack on Saudi oil field sparks supply disruption fearsThe Business Standard (UNB) 22 October 2026tbsnews.net
  4. 4
    AI stocks drag markets down worldwide as oil prices climb to their highest since MayAssociated Press (via BNN Bloomberg) 22 October 2026bnnbloomberg.ca