Oil Rises On Saudi Facility Attacks; Hormuz Traffic Remains Disrupted

Oil prices increased on April 10 as supply concerns intensified following attacks on Saudi Arabia’s energy infrastructure and continued disruption in tanker movement through the Strait of Hormuz, according to Reuters.

Brent crude futures rose by 96 cents, or 1%, to $96.88 per barrel as of 0604 GMT, while U.S. West Texas Intermediate (WTI) crude gained 78 cents, or 0.80%, to $98.65 per barrel.

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Saudi Supply Disruptions

Saudi Arabia’s oil output has been impacted by recent strikes on its energy facilities. According to the Saudi state news agency SPA, citing the Ministry of Energy, the attacks reduced production capacity by about 600,000 barrels per day.

In addition, throughput on the East-West Pipeline declined by around 700,000 barrels per day following the disruptions. The developments raised concerns about further tightening in global oil supply.

Strait Of Hormuz Traffic Impact

Tanker movement through the Strait of Hormuz remained significantly below normal levels. Ship traffic was operating at less than 10% of usual volumes on April 9, according to Reuters.

The disruption follows ongoing tensions despite a two-week ceasefire agreement between the U.S. and Iran announced earlier in the week. Iran has ordered ships to stay inside its territorial water zone, resulting in less traffic through this channel.

The Strait of Hormuz serves as an essential shipping route for international petroleum and natural gas supplies, and its decreased traffic has led to worries over its delivery channels.

Weekly Oil Price Movement

Although there was a gain on April 10, crude oil prices continued on a trajectory towards a weekly loss. The Brent and WTI crude futures contracts have dropped by roughly 11% this week, making it their steepest weekly decline since June 2025, following a series of strikes initiated by the United States and Israel.

Ongoing Conflict And Infrastructure Damage

The crisis that erupted on February 28 has caused damage to energy infrastructure in the Gulf area. As revealed by JPMorgan, about 50 infrastructure assets have been hit by drone and missile attacks over the last few weeks.

Moreover, the disruptions have caused a halt in the refinery of about 2.4 million barrels per day of oil. The oil market is keeping a watch on what is happening in the region because the disruption in the supply of oil and shipments of oil affects prices globally.