# Oil settles over $100 as Houthi attacks intensify Middle East supply risks | Reuters

> Iran's Revolutionary Guards said an oil tanker caught fire after an explosion in the Strait of Hormuz and declared the strait closed to tankers without Iranian coordination. Brent settled above $100 as Houthi attacks intensified, and Goldman Sachs said Brent could exceed $120 in the fourth quarter if disruption persists.

- Date: 2026-07-23 · published 2026-07-23T12:00:00.000Z
- Category: geopolitics · region Middle East · magnitude high
- Page: https://feedsoft.ai/events/9925-oil-settles-over-100-as-houthi-attacks-intensify-middle-east-supply-risks
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [ULSD / Diesel](https://feedsoft.ai/c/DIESEL.md), [Ocean Grain Freight](https://feedsoft.ai/c/OCEANFRT.md)

## Why it matters

Closure of Hormuz and threatened Red Sea routes remove a large share of seaborne crude, tightening global supply and lifting energy costs that feed into feed production and freight.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲
- DIESEL: bullish ▲
- OCEANFRT: bullish ▲

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| BRENT | 2026-07-23 | 5 | +29.7% | 3.5 | Iran declaring Hormuz closed to tankers without its coordination, plus a tanker fire and Goldman's $120 upside call, raised supply-risk premium sharply. |
| BRENT | 2026-07-23 | 1 | +11.9% | 3.1 | A tanker fire and the Iranian declaration that Hormuz is closed to uncoordinated tankers raised supply-loss fears, and Goldman's $120 Q4 call added to the move. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2024-10-04 | [Oil settles up, biggest weekly gains in over a year on Middle East war risk \| Reuters](https://feedsoft.ai/events/10024-oil-settles-up-biggest-weekly-gains-in-over-a-year-on-middle-east-war-risk.md) | +2.4% | -5.7% |
| BRENT | 2024-10-03 | [Oil jumps over $3 a barrel as Middle East conflict stokes supply worry \| Reuters](https://feedsoft.ai/events/10023-oil-jumps-over-3-a-barrel-as-middle-east-conflict-stokes-supply-worry-reuters.md) | +3.3% | -2.0% |
| BRENT | 2026-03-25 | [Oil settles up nearly 6% as investors fear further Middle East escalation \| Reuters](https://feedsoft.ai/events/20343-oil-settles-up-nearly-6-as-investors-fear-further-middle-east-escalation-reuters.md) | +15.0% | +1.0% |
| BRENT | 2024-10-22 | [Oil settles up 2% as Middle East war rages and supplies tighten](https://feedsoft.ai/events/28035-oil-settles-up-2-as-middle-east-war-rages-and-supplies-tighten.md) | -2.9% | +0.0% |
| BRENT | 2025-06-11 | [Oil prices jumps 4% to 2-month high as tensions rise in Middle East \| Reuters](https://feedsoft.ai/events/11156-oil-prices-jumps-4-to-2-month-high-as-tensions-rise-in-middle-east-reuters.md) | +14.7% | +5.4% |
| WTI | 2024-10-04 | [Oil settles up, biggest weekly gains in over a year on Middle East war risk \| Reuters](https://feedsoft.ai/events/10024-oil-settles-up-biggest-weekly-gains-in-over-a-year-on-middle-east-war-risk.md) | +2.9% | -6.3% |
| WTI | 2024-10-03 | [Oil jumps over $3 a barrel as Middle East conflict stokes supply worry \| Reuters](https://feedsoft.ai/events/10023-oil-jumps-over-3-a-barrel-as-middle-east-conflict-stokes-supply-worry-reuters.md) | +4.4% | -2.4% |
| WTI | 2026-03-25 | [Oil settles up nearly 6% as investors fear further Middle East escalation \| Reuters](https://feedsoft.ai/events/20343-oil-settles-up-nearly-6-as-investors-fear-further-middle-east-escalation-reuters.md) | +10.2% | +1.3% |

## Sources

- reuters.com: https://www.reuters.com/business/energy/oil-prices-rise-six-week-high-us-iran-tensions-escalate-2026-07-23/

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