Energy & Resources
Brent crude rises above $100 amid Middle East supply concerns
Brent crude prices rose above $100 a barrel on Thursday as concerns about attacks in the Red Sea added to supply worries in an oil market already affected by the quasi-shutdown of the Strait of Hormuz.
Near 1820 GMT, Brent oil futures were up 8.4 percent at $101.93 a barrel. AFP reported that this was the first time Brent had traded above $100 since late May.
US benchmark West Texas Intermediate also rose, gaining 7.6 percent to $93.44 a barrel.
Update
Near 1820 GMT, Brent oil futures were up 8.4 percent at $101.93.
Brent rose above $100 for the first time since late May.
US benchmark West Texas Intermediate rose 7.6 percent to $93.44 a barrel.
The source linked the price rise to worries about attacks in the Red Sea and supply concerns in a market limited by the quasi-shutdown of the Strait of Hormuz.
Source note: AFP news report published on 23 July 2026 at 18:33:20 UTC.
Update
Brent oil prices rose 8 percent on Middle East strikes.
Source note: AFP news report published on 23 July 2026 at 18:23:32 UTC.
Update
The source says the war resumed after a ceasefire that lasted a few weeks.
US Central Command said it had carried out a 12th consecutive night of strikes on Iranian military targets.
President Donald Trump said the US would bomb one Iranian bridge or power plant each time Iran fires at ships in the Strait of Hormuz.
Iranian Foreign Minister Abbas Araghchi said Iran would respond in kind to attacks on its infrastructure.
Iranian state media said a US attack killed two people at Shalamcheh and that two US missiles hit Bushehr.
The Houthis said they struck two Saudi tankers in the Red Sea after declaring a blockade of Saudi ports.
British naval security monitor UKMTO said a tanker master reported being hit southwest of Al Shuqaiq.
Iran's Revolutionary Guards said they stopped three oil tankers from transiting the Strait of Hormuz.
Brent crude was reported up four percent at $97.80 a barrel.
Oman said it was working to resume talks between the Houthis and Saudi Arabia.
Source note: AFP news report published on 23 July 2026 at 09:36:31 UTC.
Update
State television reported the Iranian army statement.
Army spokesperson Mohammad Akraminia was named as the speaker.
Akraminia said retaliatory attacks would continue as long as US attacks on Iran's infrastructure and coastal areas continued.
Akraminia said Iran was ready for every enemy scenario.
Source note: AFP news report published on 23 July 2026 at 08:50:41 UTC.
Uncertainty notes
The source does not give further details on the attacks in the Red Sea or the quasi-shutdown of the Strait of Hormuz.
Source
AFP news report published on .