Brent crude tops $100 for the first time since May 26 after tanker attacks

Brent crude oil topped $100 a barrel on Thursday, July 23, 2026, for the first time since May 26. The international benchmark was up about 6.4% at $100.05 per barrel around 9:15 a.m. US Eastern time.

The jump came after Yemen's Houthi militia said it had struck two Saudi oil tankers in the Red Sea with missiles and drones, and the United States threatened to escalate strikes on Iran. It was the first confirmed tanker attack in that waterway, opening a new front for the oil market alongside concerns over the Strait of Hormuz.

With Thursday's rise, Brent was on track for a monthly gain of about 36%, which would be its third-biggest monthly jump in the past decade. Higher oil prices directly affect Iran's oil revenue and domestic markets.