The price of Brent crude oil rose above $100 per barrel on Thursday, a sign of global concern over the renewed fighting between Iran and the United States. File Photo by Yonhap/EPA
July 23 (UPI) -- The price of Brent crude oil rose above $100 per barrel on Thursday, a sign of global concern over the renewed fighting between Iran and the United States.
Oil prices rose at a stark rate as the Houthis, an Iranian-backed group, have begun targeting oil tankers from Saudi Arabia, further putting the global oil supply at risk.
The Houthis have enacted a blockade on the Red Sea and claim that two Saudi Arabian tankers violated it on Thursday. They added that they used ballistic and cruise missiles and drones on the tankers, setting one ablaze.
Brent crude oil surpassed $100 per barrel in March after the war in Iran started and remained there until late May before falling as talks of peace between the United States and Iran picked up.
