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Latest Oil Market News and Analysis for July 23

Bloomberg Markets Wednesday 22 July 2026, 22:02 UTC By Kanoko Matsuyama and Will Kubzansky 1 min read
Key Points

Oil Climbs After Houthis Attack Two Saudi Tankers in the Red Sea Oil gained after Iran-backed Houthi militants said they targeted two Saudi Arabian tankers in the Red Sea, escalating the Middle East conflict and threatening deeper supply disruptions. West Texas Intermediate rose as much as 1.3% to trade above $87 a barrel. Brent spiked above $95 in post-settlement trading.

Oil Climbs After Houthis Attack Two Saudi Tankers in the Red Sea Oil gained after Iran-backed Houthi militants said they targeted two Saudi Arabian tankers in the Red Sea, escalating the Middle East conflict and threatening deeper supply disruptions. West Texas Intermediate rose as much as 1.3% to trade above $87 a barrel. Brent spiked above $95 in post-settlement trading. The Houthis attacked the two vessels with missiles and drones for violating a blockade imposed in the Red Sea, identifying the tankers as Encelia and Layla, the rebel group said.
Latest Oil Market News (ORG) the Red Sea Oil (LOCATION) Iran (LOCATION) Houthi (ORG) Saudi Arabian (ORG) the Red Sea (LOCATION) Middle East (LOCATION) West Texas Intermediate (ORG) Brent (PERSON) Houthis (PERSON) Encelia (LOCATION) Layla (PERSON)
Originally published by Bloomberg Markets Read original →

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