Brent crude prices crossed $100 per barrel on Thursday for the first time since May after Yemen's Houthi group claimed responsibility for attacking two Saudi oil tankers in the Red Sea, raising fresh concerns over global oil supplies.
The attacks pushed oil prices sharply higher amid fears that tensions in the region could disrupt crude shipments. At around 8 pm IST, Brent crude was trading at $100.79 per barrel, up about 7%, while West Texas Intermediate (WTI) crude rose nearly 6% to $91.83 per barrel. The Houthis said on Wednesday (local time) that they had targeted two Saudi oil tankers in the Red Sea.
The claim came days after Saudi forces carried out strikes on Sanaa airport, further escalating tensions between Riyadh and the Iran-backed group. The latest escalation has renewed concerns over the security of oil supplies from the Middle East, one of the world's biggest energy-producing regions.
Markets are now closely watching whether the conflict could affect global crude flows. Reacting to the attacks, US President Donald Trump wrote on Truth Social, "Now they (Houthis) are starting up again, shooting at two Saudi Arabian ships last night. Please let this TRUTH serve to represent that if they do this again, the US will hold Iran responsible.”