Trump confirmed the strait is open and the East-West pipeline has recovered about half its capacity. But on 1 October, Brent was $99-100 a barrel against $72.50 before the crisis, and European gas was more than double its pre-war level.
Middle East oil exports have recovered above pre-war levels, but the Houthis' advance into the Bab al-Mandab Strait is keeping crude prices elevated. Brent hit $100.80 on Wednesday, its highest since late July.
The kingdom produced 6.238 million barrels per day in August, down nearly two million from the previous month. Houthi strikes on oil facilities and blockades of key shipping routes have forced Saudi Arabia to reroute crude, while Brent futures crossed $100 a barrel.
Fires at energy installations in four southern Saudi cities forced a temporary halt to operations, wounding 73 people including children. A Houthi spokesperson warned that a broader operation deep into Saudi Arabia was still to come.
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