Houthi attacks on Saudi oil facilities raise threat of Red Sea supply cut-off
An oil tanker is berthed at an offshore oil terminal near Basra, Iraq as it prepares to load crude oil on April 24, 2026. (Reuters File Photo)
SINGAPORE - Benchmark Brent crude oil futures rose past $100 a barrel on Wednesday, breaching the symbolic barrier for the first time since July 24 as intensifying conflict in the Middle East fuelled growing concern about supplies.Brent crude futures were up $2.15, or 2.2%, to $100.07 a barrel as of mid-afternoon in Asia, while US West Texas Intermediate crude was up $1.70, or 1.8%, at $94.73.
Brent crude prices have risen by 25% since early last month as hopes fade for a permanent resolution to the six-month-old US-Iran conflict.
Before the first Israeli and US strikes on Iran on Feb 28, oil was trading at around $70 a barrel.
