# Oil jumps over 2% amid Red Sea vessel attacks, rate cut hopes | Reuters

> Oil rose more than 2% on December 26 to its highest level of the month. Brent settled up $2 at $81.07 after trading as much as 3.4% higher, and WTI climbed to $75.57. Attacks on ships in the Red Sea raised fears of shipping disruptions, and hopes of interest rate cuts added support.

- Date: 2023-12-26 · published 2023-12-26T12:00:00.000Z
- Category: geopolitics · region Global · magnitude medium
- Page: https://feedsoft.ai/events/32905-oil-jumps-over-2-amid-red-sea-vessel-attacks-rate-cut-hopes-reuters
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Red Sea attacks lengthen and raise the cost of shipping routes, which can tighten freight and energy costs for grain and feed trade. Higher crude also lifts diesel and biofuel feedstock values, supporting vegetable oil prices.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2026-07-23 | [Oil settles over $100 as Houthi attacks intensify Middle East supply risks \| Reuters](https://feedsoft.ai/events/9925-oil-settles-over-100-as-houthi-attacks-intensify-middle-east-supply-risks.md) | -9.5% | -7.3% |
| BRENT | 2024-04-15 | [Iranian attacks on Israel sees only muted crude oil reaction: Russell \| Reuters](https://feedsoft.ai/events/30898-iranian-attacks-on-israel-sees-only-muted-crude-oil-reaction-russell-reuters.md) | -4.5% | -9.5% |
| BRENT | 2026-10-23 | [Oil prices jump $3 on Houthi attacks, oil spill, highest settlement since April By Reuters](https://feedsoft.ai/events/17214-oil-prices-jump-3-on-houthi-attacks-oil-spill-highest-settlement-since-april-by.md) | -1.7% | — |
| BRENT | 2026-07-23 | [Oil prices surge to $100 per barrel after Red Sea attacks](https://feedsoft.ai/events/9927-oil-prices-surge-to-100-per-barrel-after-red-sea-attacks.md) | -9.5% | -7.3% |
| BRENT | 2024-03-18 | [Oil prices inch higher amid attacks on Russian energy facilities \| Reuters](https://feedsoft.ai/events/31372-oil-prices-inch-higher-amid-attacks-on-russian-energy-facilities-reuters.md) | -0.3% | +6.0% |
| WTI | 2026-07-23 | [Oil settles over $100 as Houthi attacks intensify Middle East supply risks \| Reuters](https://feedsoft.ai/events/9925-oil-settles-over-100-as-houthi-attacks-intensify-middle-east-supply-risks.md) | -7.9% | -6.4% |
| WTI | 2024-04-15 | [Iranian attacks on Israel sees only muted crude oil reaction: Russell \| Reuters](https://feedsoft.ai/events/30898-iranian-attacks-on-israel-sees-only-muted-crude-oil-reaction-russell-reuters.md) | -3.0% | -8.0% |
| WTI | 2026-10-23 | [Oil prices jump $3 on Houthi attacks, oil spill, highest settlement since April By Reuters](https://feedsoft.ai/events/17214-oil-prices-jump-3-on-houthi-attacks-oil-spill-highest-settlement-since-april-by.md) | -1.0% | — |

## Sources

- reuters.com: https://www.reuters.com/business/energy/oil-little-changed-investors-eye-middle-east-tensions-us-rate-cut-2023-12-26/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.