Houthi attacks push Brent toward US$100

2 min read

Brent crude jumped as much as 5 percent to above US$98 a barrel after Tehran-backed Houthi rebels claimed to have struck two Saudi oil tankers in the Red Sea, pushing the main contract toward US$100. Iran said it would keep striking the region while it is under attack by US strikes. The attacks buoyed Asian tech stocks on a separate AI-driven bounce, while European markets fell and the dollar firmed. Analysts warned that pressure on the Strait of Hormuz and Red Sea could keep oil prices elevated and raise inflation and interest-rate risks.

Brent oil nears US$100 after Red Sea attacks