Brent Crude Hits $100 a Barrel on Red Sea, Iran Supply Threats

🌐 Bloomberg (United States) —
Brent Crude Hits $100 a Barrel on Red Sea, Iran Supply Threats

AI Summary

Brent crude oil prices rose to $100 per barrel due to supply threat concerns following attacks by Iran-backed Houthi militants on Saudi tankers in the Red Sea. This escalation intensifies Middle East conflict risks and potential disruptions to oil supply.

Brent crude hit $100 a barrel for the first time in two months after Iran-backed Houthi militants said they attacked two Saudi Arabian tankers in the Red Sea, escalating the Middle East conflict and threatening deeper supply disruptions.

World Security Conflict Politics Markets Commodities Energy Brent crude oil prices Red Sea Houthi militants Middle East conflict Saudi Arabia oil supply

Read original source →