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FinanceOil nears US$100 as Houthi attacks in Red Sea amplify supply risks
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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.
Source report
New threat to Red Sea passage could interrupt up to 5 million barrels per day of oil supply
Published: Thu, Jul 23, 2026 · 06:19 AM Updated: Thu, Jul 23, 2026 · 09:14 PM
Oil prices are approaching the US$100 per barrel mark as escalating Houthi attacks in the Red Sea heighten concerns over global supply disruptions.
The renewed threat to Red Sea shipping routes has the potential to interrupt up to 5 million barrels per day of oil supply, according to industry assessments.
- The supply risks are compounded by ongoing disruptions to exports from major producer Kazakhstan, linked to the Russia-Ukraine war.
Photo: REUTERS
Source
The Business TimesRegional
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Oil nears US$100 as Houthi attacks in Red Sea amplify supply risks