Brent surpasses $100 per barrel after US strikes and Houthi attacks
The price of Brent crude exceeded $100 per barrel on Wednesday amid a new escalation between the United States and Iran, as well as attacks by Yemen’s Houthis on facilities in Saudi Arabia. As MyJoyOnline reports, quotations later fell slightly to $99.90 per barrel.
According to the outlet, Brent had not traded at this level since late July, when the ceasefire between Iran and the United States collapsed. Before the conflict began on February 28, Brent was priced at about $70 per barrel. Due to the war, the Strait of Hormuz, through which about 20% of global oil and liquefied natural gas volumes are transported, has effectively been closed.
Strikes on Iranian tankers
The United States struck five Iranian oil tankers after Tehran attacked a US military ship. Four vessels that Washington links to the Islamic Revolutionary Guard Corps were hit in the Gulf of Oman, while another was struck near Khark Island.
US Central Command stated that the targeted tankers were part of a multibillion-dollar shadow network that finances the IRGC and its regional allies. According to Centcom, the tanker M/T Riesco sank in the Gulf of Oman. Khark Island is home to Iran’s main oil export terminal, through which approximately 90% of Iranian crude oil passes.
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In response, Tehran launched missiles at a US base in Jordan. Jordan’s armed forces said they intercepted 18 out of 20 missiles, while two fell in unpopulated areas. The IRGC also claimed attacks on two US vessels, eight oil tankers, and ten vessels that it described as not complying with demands in the Strait of Hormuz area.
Attacks in Saudi Arabia
Yemen’s Iran-backed Houthi movement attacked energy facilities and civilian infrastructure in Saudi Arabia on Tuesday. Saudi authorities reported 73 people injured. According to the kingdom’s military and energy ministry, drone and missile strikes caused fires at oil facilities and the temporary shutdown of some installations.
According to MyJoyOnline, the Houthis have been attacking Saudi airports, oil facilities, and tankers in the Red Sea since July. They described their actions as a response to the blockade of ports and airports by the Saudi side, as well as to a strike on Sana’a airport, which the Houthis attribute to Saudi Arabia.
