Brent Crude Oil Hits $100 Amid Red Sea and Iran Supply Tensions

Brent crude surpassed $100 a barrel, reaching a six-week high and hitting the triple-digit threshold for the first time since May, driven by mounting supply disruptions and escalating tensions between the United States and Iran. According to Bloomberg, CNBC, and Reuters, the price spike follows reported attacks on oil tankers off the coast of Saudi Arabia, intensifying concerns over the security of critical Middle Eastern export routes.

Market Response and Tanker Attacks

According to Reuters, oil prices topped $100 again following a Houthi assault targeting Saudi tankers, which worsened ongoing supply disruptions in the region. CNBC reported that vessels were struck off Saudi Arabia, triggering immediate jitters among traders who closely monitor the chokepoints through which a significant portion of the world’s crude passes.

Geopolitical Escalation Between US and Iran

The price surge is fundamentally underpinned by worsening diplomatic and military friction between Washington and Tehran.