Key facts
- Brent crude trading at $114.42 per barrel.
- WTI trading at $100.97 per barrel.
- At least 28 vessels attacked in Strait of Hormuz this month.
- 11 of those attacks targeted supertankers.
Crude oil prices are holding above $100 per barrel despite a recent dip, driven by ongoing geopolitical tensions in the Middle East. Hostilities involving Yemen's Houthis and Iran continue to threaten supply routes and infrastructure. Data indicates a significant increase in tanker attacks in the Strait of Hormuz, with at least 28 vessels targeted this month, including 11 supertankers. The Houthis have specifically targeted Saudi oil facilities and an airport.