Missile Launches Toward Saudi Arabia Keep Brent on Weekly Gain Track

Brent crude was on course for a weekly gain Friday as renewed missile launches targeting Saudi Arabia kept regional supply security in focus amid uncertainty over possible U.S.-Iran discussions.

Brent traded at $105.65 a barrel at 1:04 a.m. ET (05:04 UTC) Friday, up from about $102 at the start of the week. West Texas Intermediate stood at $93.11, compared with about $98 on Monday.

Saudi Arabia said six ballistic missiles launched toward Taif and Yanbu on Sept. 24 were intercepted and destroyed. The available information does not establish damage to oil infrastructure or a reduction in Saudi production or exports.

Yanbu is a Red Sea port and a major Saudi oil-export location, making missile launches near the city relevant to regional energy shipments. The Gulf Cooperation Council condemned the launches and said its member states supported Saudi Arabia’s security measures.

The developments follow earlier missile launches targeting Yanbu and Taif and add to market attention on the security of Saudi energy routes. The available information does not establish that the Yanbu terminal or Saudi oil supply was disrupted.

Markets also weighed unconfirmed reports of possible U.S.-Iran discussions involving a potential reopening of the Strait of Hormuz. No official agreement confirming those terms was available. The waterway remains central to global energy shipments, leaving its status a key factor in regional supply concerns.