Oil price passes $100 a barrel again as Middle East conflict escalates
Why This Matters
Key context: <p>Benchmark rises sharply over fears Houthi militia could strangle Saudi exports as US-Iran fighting intensifies</p><p>The oil price has climbed back above $100 a barrel for the first time in two months, as a fresh escalation of the Middle East conflict threatens to compound disruption to global oil supplies.</p><p>The benchmark oil price rose sharply on Thursday, after <a href="https://www.theguardian.com/world/2026/jul/22/oil-price-increases-middle-east-conflict-escalates-us-iran">reaching $95 a barrel the day before</a> amid fears that Yemen’s Houthi militia could strangle Saudi oil exports through the Red Sea while US-Iran tensions over oil flows through the <a href="https://www.theguardian.com/world/strait-of-hormuz">strait of Hormuz</a> intensify.</p> <a href="https://www.theguardian.com/business/2026/jul/23/oil-price-passes-100-a-barrel-again-as-middle-east-conflict-escalates">Continue reading...</a> This development from The Guardian highlights ongoing changes in the sector.
Benchmark rises sharply over fears Houthi militia could strangle Saudi exports as US-Iran fighting intensifiesThe oil price has climbed back above $100 a barrel for the first time in two months, as a fresh escalation of the Middle East conflict threatens to compound disruption to global oil supplies.The benchmark oil price rose sharply on Thursday, after reaching $95 a barrel the day before amid fears that Yemen’s Houthi militia could strangle Saudi oil exports through the Red Sea while US-Iran tensions over oil flows through the strait of Hormuz intensify. Continue reading...
Curation & Context
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