Oil Prices Dip but Hold Above $100 as Middle East Supply Threats Mount
Crude oil prices began trading with a dip this week but remain significantly elevated as hostilities between Yemen’s Houthis and Saudi Arabia, as well as Iranian attacks on tankers in the Persian Gulf, continue.…
What I Cover Irina Slav has been writing about global energy markets since 2007, covering the oil and gas industry, energy security, commodities, and the…
Crude oil prices began trading with a dip this week but remain significantly elevated as hostilities between Yemen’s Houthis and Saudi Arabia, as well as Iranian attacks on tankers in the Persian Gulf, continue.
At the time of writing, Brent crude was trading at $114.42 per barrel, down from over $116 per barrel last week but up from around $60 per barrel at the end of 2025.
West Texas Intermediate remained above $100 per barrel, despite the dip from Friday’s close, trading at $100.97 per barrel at the time of writing, down from a 2026 high of over $112 in April, but up from less than $60 per barrel at the end of December last year.
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