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Brent Crude Surges Above $100 on Houthi Tanker Strikes, Retreats to $98.64 Within 24 Hours

2026-07-24 11:42:18

According to OilPrice.com, Brent crude settled at $100.69 on Thursday, July 24, marking the first time above $100 in two months after Houthi forces claimed responsibility for striking two Saudi oil tankers in the Red Sea. The rally, up 7% and extending a fifth consecutive session of gains, retreated to $98.64 by Friday, down 2.04%. The three-week move remains striking, with Brent climbing over 40% from $71.57 on July 1. The escalation compounded as Kazakhstan halted crude transfers via the Caspian Pipeline Consortium terminal after Ukrainian drone strikes, disrupting roughly 1% of global supply. West Texas Intermediate slipped 1.67% to $90.65 by Friday.

Disclaimer: The information on this page may come from third-party sources and is for reference only. It does not represent the views or opinions of Gate and does not constitute any financial, investment, or legal advice. Virtual asset trading involves high risk. Please do not rely solely on the information on this page when making decisions. For details, see the Disclaimer.

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