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Brent futures settled up 7% at $100.7 after Houthis attacked two Saudi tankers in the Red Sea, extending gains for a fifth straight day. WTI rose 6.2% to $92.2.
Higher crude on Red Sea and Hormuz risk lifts diesel and freight costs, adding to feed production and delivery expenses.
forbesmiddleeast.comSamra Ahmed, Mohamed Rashed Alkhalifa, Joyce Abaño, Khadijah KhogeerJul 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.
After 250 past bullish geopolitics events, ULSD / Diesel moved a median +1.7% over 5 sessions (58% higher; middle half -3.6% to +8.7%), and +0.9% over 20.
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.
Confirms the 7% settle at $100.7 after Houthi tanker attacks and a fifth straight daily gain, consistent with the multi-day rally.
It reports the same Houthi-driven 7% settlement jump and a fifth straight daily gain, confirming the supply-risk catalyst.
