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The Economic Times

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Oil crosses $100: A 'perfect hurricane' can trigger bigger shock soon

Brent crude has surged past $100 as escalating Middle East tensions threaten two critical oil chokepoints the Strait of Hormuz and Bab el-Mandeb at the same time. While markets were already grappling with disruptions in Hormuz due to the US-Iran conflict, fresh Houthi attacks on Saudi oil tankers in the Red Sea have put alternative export routes at risk.

23 Jul 2026 9:29 pm