Houthi missiles aimed at Riyadh and a disputed Russia-Ukraine "energy ceasefire" keep oil prices high
Oil rose on Monday as attacks on Saudi Arabia and the claimed Russia-Ukraine energy truce kept supply fears alive (IOL, Bloomberg). The Houthis said they targeted Riyadh airport with ballistic missiles on Monday, and the Saudi-led coalition said it destroyed a missile (FinancialJuice). Reuters reported airlines cancelling flights. Moneyweb reported that Saturday's strike killed 12 and wounded 309. FinancialJuice recorded Brent settling at $106.65 and WTI at $93.74. Reuters reported Ukraine accusing Russia of violating the ceasefire and the EU adopting nearly 1,600 new sanctions listings. Moscow has not confirmed the truce (BBC, FAZ).
A conflict that reaches airports and shipping lanes in the Gulf can lift oil prices everywhere, and fuel is one of the biggest costs in a South African household and in the businesses that move goods.
Higher oil usually means dearer petrol and diesel at the pump, and The Citizen reports the government is weighing relief. A weaker rand would add to the effect.
Supporters of the energy truce say halting strikes on power plants could ease energy prices.
Sceptics say Russia has not agreed and that the US diesel deal with Moscow may break the law, as US senators warned.
Watch the Brent price and any statement from Moscow. DailyDrop could not confirm Monday's Wall Street closes from two outlets, so we show Friday's.
DailyDrop South Africa edition No. 9 · Morning · TUE., OCT. 13, 2026