Oil surges past $100 in a first since May as Middle East conflicts rage
Brent crude prices have surpassed $100 per barrel following Houthi attacks on Saudi oil tankers in the Red Sea. The escalation of conflict in the Middle East is raising concerns about global energy supply disruptions and inflation.
Why it matters
Disruptions to key maritime energy routes can cause global price spikes and exacerbate inflationary pressures.
Oil prices rise for a fifth day after Yemen’s Houthis say they struck Saudi Arabian oil tankers in the Red Sea.
x whatsapp-stroke copylink google Add Al Jazeera on Google info A customer holds a fuel pump nozzle before filling up her vehicle's gas tank at a gas station in Lincolnshire, Illinois, US, April 15, 2026 [Nam Y Huh/AP] By AFP and Reuters Published On 23 Jul 2026 23 Jul 2026 The widening conflict in the Middle East has pushed the price of benchmark Brent crude past $100 for the first time since May, the highest in nearly two months.
Oil prices increased for a fifth day on Thursday after Yemen’s Houthis said they struck Saudi Arabian oil tankers in the Red Sea amid escalating violence between Iran and the United States.
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