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[BUSINESS] · United States, Iran, Saudi Arabia, Yemen · 100 sources

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Brent Crude Surpasses $100 as Houthi Attacks Trigger Global Oil Market Turmoil

Yemeni Houthi militants, backed by Iran, launched missile and drone attacks on two Saudi oil tankers in the Red Sea, claiming to enforce a naval blockade on Saudi ports. The assaults prompted three tankers carrying Saudi crude for Asia to turn back toward the Suez Canal, raising concerns over the Bab el‑Mandeb Strait as a second chokepoint.

In response, U.S. forces carried out their 11th consecutive night of strikes on Iranian military targets, while President Donald Trump warned on Truth Social that any further Houthi aggression would result in "major military punishment" for Iran and the militia. The escalating confrontations pushed Brent crude futures up more than 6%, breaking the $100‑a‑barrel barrier for the first time since May, with WTI also climbing above $90.

The price spike heightened fears of broader supply disruptions, lifted gasoline prices in the United States, and spurred volatile trading in energy equities worldwide. Analysts noted that the combined Red Sea and Strait of Hormuz tensions could force longer shipping routes, increase insurance costs, and further tighten global oil supplies.

Sources

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