Oil hits $100 for first time since May
Financial Times 2026-07-23 14:43:01
Context: Oil prices surged to $100 per barrel for the first time since May after an attack by Houthi rebels on Saudi Arabian tankers in the Red Sea, threatening to further squeeze energy supplies. The incident has raised concerns about the security of global oil shipments and the potential for supply chain disruptions. The attack has added to the already tense situation in the region, with implications for the global economy.
Key Facts
- The Houthi rebels' attack on Saudi Arabian tankers in the Red Sea has led to a significant increase in oil prices, which hit $100 per barrel for the first time since May.
- The incident has raised concerns about the security of global oil shipments, with the potential for supply chain disruptions and further strain on energy supplies.
- The Houthi rebels have been involved in a longstanding conflict with the Saudi-led coalition in Yemen, and their attacks on Saudi Arabian targets have been a major point of contention in the region.