A Saudi oil tanker was attacked in the Red Sea, pushing oil prices above $98. New all-time high by December 31 at 16.5% YES.

Houthi attacks are expanding the Middle East conflict into the Red Sea, forcing tankers to reroute and pushing Brent above $91 amid growing fears of prolonged supply disruptions.

Houthi missile reportedly strikes Saudi oil tanker near Yemen. WTI reaching $120 in July 2026 at 1.7% YES.

Crude oil futures traded higher on Thursday morning following reports of attacks by the Iran-backed Houthis on ships in the Red Sea.