Brent North Sea oil price hits $100 on Mideast attacks

July 23 2026 16:24:30

Brent North Sea oil price hits $100 on Mideast attacks

LONDON

The price of the benchmark international oil contract, Brent North Sea, reached $100 a barrel in trading on July 23 after Yemen's Houthi rebels struck oil tankers in the Red Sea.

Brent soared more than six percent to hit the $100 level, as the attacks potentially opened a new front in the Middle East war, with President Donald Trump threatening the rebels with "major military punishment."

The main U.S. oil contract, West Texas Intermediate, rallied 5.0 percent to $91.19 a barrel.

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