Kanoko Matsuyama and Paul BurkhardtUpdated Jul 24, 2026 – 12.04am, first published at Jul 23, 2026 – 9.11pmOil topped $US100 ($142) a barrel 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.Brent had briefly spiked above $US98 a barrel, after closing at a six-week high in the previous session. The Houthis said they fired missiles and drones at the vessels for violating a blockade of Saudi ports that they announced this week.BloombergSubscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber? Fetching latest articles
Oil tops $US100 as Houthi attacks in Red Sea increase supply risks
Oil is on an upward trajectory as Donald Trump’s war in the Middle East spreads into the Red Sea, leaving tankers in danger across the Gulf.
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