DistantNews
Support us
🇹🇼 Taiwan /Energy & Infrastructure

Houthi attacks on Saudi oil tankers send prices above $100 barrel

From Liberty Times · () Chinese

Translated from Chinese, summarized and contextualized by DistantNews.

At a glance

News Named sources Context piece
  • The Houthi movement in Yemen claimed responsibility for attacking two Saudi oil tankers in the Red Sea.
  • The attacks have exacerbated global supply concerns, following disruptions in the Strait of Hormuz.
  • International oil prices surged, with Brent crude closing above $100 per barrel for the first time since May.

Attacks claimed by Yemen's Houthi movement on two Saudi oil tankers in the Red Sea have intensified global supply concerns, adding to existing disruptions in the Strait of Hormuz. The assaults have led to a significant increase in international oil prices, pushing Brent crude above $100 per barrel for the first time since late May.

Brent crude futures rose by $6.62, or 7%, to settle at $100.69 per barrel. This marks the highest closing price since May 22. The global benchmark crude price has climbed nearly 40% since the outbreak of the Iran-US war in February, with almost all of this increase occurring in July.

In New York, West Texas Intermediate (WTI) crude futures increased by $5.36, or 6.2%, to close at $92.19 per barrel. This is the highest closing price for WTI since June 4. The escalating tensions and attacks in key shipping lanes are contributing to the volatile oil market.

DistantNews Editorial

Originally published by Liberty Times in Chinese. Translated, summarized, and contextualized by our editorial team with added local perspective. Read our editorial standards.

More Stories

From Our Blog