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Brent Crude Nears $100 After Middle East Attacks
A comprehensive report indicates that oil prices, particularly Brent crude, have approached $100 per barrel after energy facilities in Saudi Arabia were targeted by the Houthis (Houthi rebels), leading to the shutdown of several operations in the region and increasing concerns over the continued disruption of supplies in the Middle East. Military tensions have intensified, with additional attacks and Iranian threats, causing oil prices to rise by more than 60% since the beginning of the year and raising risks to the global energy market, especially amid ongoing shutdowns of some shipping platforms and supply chains. The analysis also shows that oil flows through the Strait of Hormuz have decreased to approximately 7-8 million barrels per day, despite some tankers transiting without official disclosure, with expectations that the situation remains prone to further escalation in the near future.
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