Brent crude futures are trading near the $100-a-barrel threshold, driven by fresh reports that Houthi rebels have struck Saudi Arabian oil tankers in the Red Sea.
The attack marks a significant escalation in the group’s campaign against maritime traffic, directly targeting the infrastructure used for Saudi crude exports.
This development comes as the United States continues its military campaign against Iran, now in its 12th night, further intensifying geopolitical risks across the Middle East.
The price surge reflects growing investor anxiety over potential supply disruptions.
Saudi Arabia had been exporting record volumes of crude from its Red Sea terminals in the weeks leading up to the Houthi warning that they would block these shipments.
The combination of active strikes on tankers and the broader conflict creates a tangible risk to global oil flows, particularly for cargoes destined for Europe and Asia via the Suez Canal route.