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Brent closed up about 7% at $100.69 after Houthi rebels claimed attacks on two Saudi oil tankers in the Red Sea, the first such attacks beyond the Hormuz area. Hormuz traffic has fallen to single digits.
Attacks on Red Sea routes threaten Bab el-Mandeb transit, raising shipping risk and crude prices that feed into feed costs.
nbcnews.comSteve KopackJul 23, 2026After 656 past bullish geopolitics events, Crude Oil (Brent) moved a median +1.9% over 5 sessions (63% higher; middle half -2.7% to +6.6%), and +0.7% over 20.
After 626 past bullish geopolitics events, Crude Oil (WTI) moved a median +2.1% over 5 sessions (62% higher; middle half -2.3% to +8.5%), and +1.6% over 20.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
Houthi attacks on Saudi tankers in the Red Sea extended supply disruption beyond Hormuz, driving a ~7% one-day Brent jump to about $100.
Houthi attacks on two Saudi tankers in the Red Sea extended supply disruption beyond Hormuz, which drove Brent up about 7% to roughly $100.7.
