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Brent crude surged past $100 a barrel on Thursday after Houthi forces attacked two Saudi oil tankers in the Red Sea, adding pressure to an already disrupted Strait of Hormuz. Goldman Sachs now sees Brent potentially exceeding $120 in Q4 2026 if both chokepoints remain closed.
The US has paused nightly airstrikes against Iran amid reports of shrinking Patriot interceptor stockpiles and internal White House concerns about escalation risks. The break has revived diplomacy prospects, but Iran's Strait of Hormuz blockade and Houthi attacks on Saudi Aramco sites keep the conflict active.
US forces struck Iran for a thirteenth consecutive night, hitting military sites linked to shipping threats in the Strait of Hormuz, after Houthi rebels attacked two Saudi oil tankers in the Red Sea. Brent crude surged past $100 a barrel and tanker traffic through the Strait of Hormuz fell to its lowest since May 7.
A South Korean tanker completed the first transit by a vessel of its flag via an alternative route around the Red Sea, circumventing Houthi-disrupted shipping lanes. The diversion, likely around the Cape of Good Hope, adds significant time and fuel cost but reduces insurance and security risk exposure for operators.
Tag
Brent crude surged past $100 a barrel on Thursday after Houthi forces attacked two Saudi oil tankers in the Red Sea, adding pressure to an already disrupted Strait of Hormuz. Goldman Sachs now sees Brent potentially exceeding $120 in Q4 2026 if both chokepoints remain closed.
1mo ago · 4 min · Global Affairs
The US has paused nightly airstrikes against Iran amid reports of shrinking Patriot interceptor stockpiles and internal White House concerns about escalation risks. The break has revived diplomacy prospects, but Iran's Strait of Hormuz blockade and Houthi attacks on Saudi Aramco sites keep the conflict active.
1mo ago · 4 min · Global Affairs
US forces struck Iran for a thirteenth consecutive night, hitting military sites linked to shipping threats in the Strait of Hormuz, after Houthi rebels attacked two Saudi oil tankers in the Red Sea. Brent crude surged past $100 a barrel and tanker traffic through the Strait of Hormuz fell to its lowest since May 7.
1mo ago · 5 min · Global Affairs
A South Korean tanker completed the first transit by a vessel of its flag via an alternative route around the Red Sea, circumventing Houthi-disrupted shipping lanes. The diversion, likely around the Cape of Good Hope, adds significant time and fuel cost but reduces insurance and security risk exposure for operators.
4mo ago · 1 min · Global Affairs
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