Brent Tops $100 for First Time in Two Months After Houthi Attack on Two Saudi Tankers
Brent crude topped $100 a barrel for the first time in two months after Iran-backed Houthi militants said they attacked two Saudi oil tankers in the Red Sea.
President Donald Trump threatened major military punishment for Iran and the Houthis after the strike, while war risk insurance costs surged for southern Red Sea voyages. With both the Strait of Hormuz and Bab el-Mandeb disrupted, Saudi Arabia has turned to shipping oil via Egypt’s Suez Canal, a route that Reuters calculations using LSEG data show would raise fuel costs alone to about $2.87 million from $1.26 million per tanker and add about $1 million in canal fees. An uptick in Asian and European demand for US crude also pointed to mounting concern over supplies.
From the sources (25 posts)
@financialjuiceIran's Fars news agency, citing a military Source: Any decision to reopen the Strait of Hormuz depends on security considerations.
@businessAnother tanker was attacked in the Strait of Hormuz as renewed hostilities empty the waterway
@firstsquawkNO SHIPS TRANSITED STRAIT OF HORMUZ IN LAST 24 HOURS, SHIP-TRACKING DATA SHOWS
@firstsquawkSHIP IN STRAIT OF HORMUZ STRUCK BY UNKNOWN PROJECTILE; CREW IS SAFE.
@reutersTanker crew abandons vessel after reported projectile strike in Strait of Hormuz, UKMTO says
@me_observer_⚡️🚨 Iranian military source tells Fars Agency that Iran's armed forces are in full control of the Strait of Hormuz, and any decision on reopening or maintaining restrictions will be based purely on security considerations and national inter
@javierblasTen days into the new phase of the war (which the US said would degrade Iranian attack capabilities in the Strait of Hormuz), the IRGC keeps hitting oil tankers. Overnight, another vessel was hit and the crew had to jump into the lifeboats.
@ajenglishIran’s Fars news agency, citing a military source, reports that the Strait of Hormuz will remain closed as long as aggressive US actions continue. 🔴 LIVE updates:
@menchosintUKMTO confirms today July 21 that a second Greek-owned Oil Tanker was hit on July 19, as claimed by Iran. The first was KAVOMALEAS - seen on fire. The second is ACHELOOS. (Additionaly two Oil Tankers were hit last night, UKMTO only repor
@iranobserver0⚡️BREAKING: Iran has struck 4 Vessels in the Strait of Hormuz in the past 24 Hours Shipping companies are paying captains Double to Risk their Lives and cross the Strait
@oilheadlinenewsGoldman Sachs warns Brent crude oil could reach $120 per barrel this year if the Strait of Hormuz remains closed
@macroedgeresBrent crude > $90/bbl #MacroEdge
@kalshiJUST IN: Goldman Sachs warns oil could reach $120/barrel if Strait of Hormuz remains closed
@rory_johnstonBrent crude back above $90/bbl this morning. Lots of diplomatic chatter, not a lot of tankers transiting Hormuz.
@anasalhajjiOil prices are up and brent is near $92/b.
@me_observer_⚡️⭕️ Brent crude oil surpasses $92 a barrel for the first time since June 11, amid the ongoing wave of US-Iran strikes and tensions over the Strait of Hormuz. (Rasd Akhbar Shehaba)
@hfi_researchStrait of Hormuz over the last 72 hours: escalation continues. Visible vessel traffic fell off a cliff. Only the Iran lane has vessels with AIS on, nothing in the Oman lane. We know there were still transits because UKMTO reported vessels
@macroedgeresBrent crude oil surpasses $95/bbl as Strait of Hormuz transits hit zero #MacroEdge
@menchosintBrent cruide oil this morning :📈 $94.5 Strait of Hormuz: Still closed Bab el Mandeb: Banned to Saudi navigation
@me_observer_⚡️⭕️ Brent crude climbs further to over $94 a barrel, up from $92 earlier, as US-Iran hostilities intensify and Reuters reports both Brent and US crude futures jumped 3% amid regional escalation. (Rasd Akhbar Shehaba citing Reuters)
@jackprandelli🚨🛢️Every major oil supply shock of the last 50 years left lasting scars. Iraq 1990: 81% hit to production four years later. Libya 2011: 76%. Iran 1980 and Iraq 1980: 64% each. Average across the 5 largest shocks: 42%, per Goldman Sachs.
@osint613Brent crude tops $94 a barrel, up from $92, as US-Iran war renews fighting
@jackprandelli🛢️Brent crossed $94 and is closing in on $95. Fresh US strikes on Iranian targets are the trigger. Goldman flagged this exact scenario days ago. Their own models show Brent could exceed $120 this quarter if Hormuz stays disrupted. The m
@anasalhajji🔴Brent price rose more than 4%. It is close to $95/b.
@theinsiderpaperBREAKING - Brent North Sea crude soars above $95 a barrel on Middle east war