# Global oil tops $100, settles at 2-month high after Houthis strike Saudi tankers and Trump threatens ‘military punishment’ on Iran - MarketWatch

> Brent settled above $100 for the first time since May after Houthis claimed strikes on Saudi tankers in the Red Sea. Trump said he is considering a massive attack on Iran.

- Date: 2026-07-23 · published 2026-07-23T12:00:00.000Z
- Category: geopolitics · region Middle East · magnitude high
- Page: https://feedsoft.ai/events/9928-global-oil-tops-100-settles-at-2-month-high-after-houthis-strike-saudi-tankers
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Ocean Grain Freight](https://feedsoft.ai/c/OCEANFRT.md)

## Why it matters

Escalation risk around the Bab el-Mandeb chokepoint lifts crude and freight costs, supporting higher prices for energy-linked feed inputs.

## Read by commodity

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

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| BRENT | 2026-07-23 | 5 | +29.7% | 3.5 | Brent settled above $100 on Houthi strikes on Saudi tankers and Trump's threat of a massive attack on Iran, adding escalation risk premium. |
| BRENT | 2026-07-23 | 1 | +11.9% | 3.1 | The Houthi tanker strikes combined with Trump's threat of a massive attack on Iran added escalation risk premium and pushed Brent above $100. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2026-04-02 | [Oil prices jump and shares drop after Trump threatens more Iran strikes](https://feedsoft.ai/events/12922-oil-prices-jump-and-shares-drop-after-trump-threatens-more-iran-strikes.md) | -2.8% | +8.2% |
| BRENT | 2026-01-14 | [WTI Nears Three-Month High As Iranian Protests Stoke Global Oil Market Concerns](https://feedsoft.ai/events/11395-wti-nears-three-month-high-as-iranian-protests-stoke-global-oil-market-concerns.md) | -0.3% | +5.1% |
| BRENT | 2026-07-23 | [Oil Jumps 7% To $100 As Houthis Target Saudi Tankers](https://feedsoft.ai/events/9931-oil-jumps-7-to-100-as-houthis-target-saudi-tankers.md) | -2.9% | -2.2% |
| BRENT | 2026-08-30 | [Oil settles up by more than 2.5% as US and Iran resume military attacks \| Reuters](https://feedsoft.ai/events/18065-oil-settles-up-by-more-than-2-5-as-us-and-iran-resume-military-attacks-reuters.md) | +10.8% | +22.9% |
| BRENT | 2018-03-09 | [US strikes three Iranian oil tankers after Iran targets US warships](https://feedsoft.ai/events/66178-us-strikes-three-iranian-oil-tankers-after-iran-targets-us-warships.md) | +1.0% | +4.8% |
| WTI | 2026-04-02 | [Oil prices jump and shares drop after Trump threatens more Iran strikes](https://feedsoft.ai/events/12922-oil-prices-jump-and-shares-drop-after-trump-threatens-more-iran-strikes.md) | -2.2% | +6.1% |
| WTI | 2026-01-14 | [WTI Nears Three-Month High As Iranian Protests Stoke Global Oil Market Concerns](https://feedsoft.ai/events/11395-wti-nears-three-month-high-as-iranian-protests-stoke-global-oil-market-concerns.md) | -0.8% | +6.2% |
| WTI | 2026-07-23 | [Oil Jumps 7% To $100 As Houthis Target Saudi Tankers](https://feedsoft.ai/events/9931-oil-jumps-7-to-100-as-houthis-target-saudi-tankers.md) | -2.1% | -0.7% |

## Sources

- marketwatch.com: https://www.marketwatch.com/story/oil-nears-100-a-barrel-after-houthis-claim-strikes-on-saudi-arabian-tankers-4d9949c2

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