Brent crude hits $100 after fresh wave of Middle East attacks
Brent crude oil prices surpassed $100 per barrel following intensified military conflicts in the Middle East involving US forces and Iranian-backed groups. The surge reflects global market anxiety over potential supply chain disruptions in the oil-rich region.
Why it matters
Rising oil prices have significant implications for global inflation, transportation costs, and the stability of the international energy market.
Oil is back in triple-digit territory. Brent crude crossed $100 a barrel on Wednesday after fresh attacks on oil facilities and tankers in the Middle East reignited concerns over an already weakened global supply chain.Brent crude rose 2.57% to $100.40 a barrel, while US West Texas Intermediate (WTI) climbed 2.10% to $94.98. The move marks the first time in almost six weeks that oil has crossed the $100 level.The latest surge follows a sharp deterioration in the conflict, with the US military reporting that it had struck five Iranian tankers after attempted missile attacks on a Navy warship. Separately, attacks by an Iranian-backed Houthi rebel group set oil facilities in Saudi Arabia on fire.The developments have added to an oil market that had already been on an upward trajectory.
Also covering this story
11 other newsrooms covered this event. We read each version separately.
Houthi strikes in Saudi Arabia wound 73: Riyadh-led coalition
Saudi Arabia vows to respond after Houthis attack cities and energy facilities
Live Updates: Latest from Israel, Iran, and the Middle East
Brent crude is surging toward $100 as Houthi strikes hit Saudi energy sites
Saudi Arabia says 73 wounded as Houthis attack civilian and energy sites
Iran-backed Houthis attack Saudi oil facilities, injuring dozens
Houthi attacks on Saudi Arabia ignite fires at oil facilities and wound 73 people
73 Injured In Houthi Attack On Saudi Arabia's Airports, Aramco Oil Sites
US military says it has destroyed 5 Iranian oil tankers
Iran-backed terrorists escalate war with Saudi Arabia as US trades strikes with Iran
U.S. strikes Iranian tankers after attempted attacks on Navy warship
Get smarter about the news
Sign up free for a feed built around what you actually care about, Dive Deeper research on any story, and the full text of every article.
Create free accountAlready have an account? Sign in