Story · Red Sea
Oil nears US$100 as Houthi attacks in Red Sea amplify supply risks
Oil prices are approaching US$100 per barrel as Houthi attacks in the Red Sea escalate, threatening to disrupt up to 5 million barrels per day of oil supply. The new threat to Red Sea passage compounds existing supply risks from the Russia-Ukraine war, which is endangering exports from major producer Kazakhstan. The article, published by The Business Times Singapore on July 23, 2026, highlights the growing geopolitical tensions impacting global energy markets.
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