Brent crude oil surged more than 6% toward $100 per barrel on Thursday, the highest level since May 22, as escalating geopolitical tensions intensified concerns over global supply. Iran-backed Houthi militants claimed responsibility for attacks on two Saudi oil tankers in the Red Sea, saying the strikes were aimed at enforcing a newly announced blockade of Saudi ports. The attacks raised fears of further disruptions to regional shipping, with buyers in Asia considering longer and more expensive alternative routes. Supply risks were compounded by continued attacks on vessels in the Strait of Hormuz, renewed US strikes on Iran, and Kazakhstan's decision to halt crude exports through the Caspian Pipeline Consortium terminal after drone attacks. Meanwhile, Washington and Tehran continued to rule out near-term peace talks, reinforcing expectations that tensions could keep oil prices elevated.

Brent rose to 100.10 USD/Bbl on July 23, 2026, up 6.41% from the previous day. Over the past month, Brent's price has risen 35.74%, and is up 44.69% compared to the same time last year, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Historically, Brent crude oil reached an all time high of 147.50 in July of 2008. Brent crude oil - data, forecasts, historical chart - was last updated on July 23 of 2026.

Brent rose to 100.10 USD/Bbl on July 23, 2026, up 6.41% from the previous day. Over the past month, Brent's price has risen 35.74%, and is up 44.69% compared to the same time last year, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Brent crude oil is expected to trade at 90.87 USD/BBL by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 102.39 in 12 months time.



Price Day Month Year Date
Crude Oil 91.83 5.002 5.76% 30.55% 39.08% Jul/23
Brent 100.48 6.408 6.81% 36.26% 45.24% Jul/23
Natural gas 2.93 0.0046 0.16% -10.16% -6.91% Jul/23
Gasoline 3.46 0.0471 1.38% 20.13% 64.14% Jul/23
Heating Oil 4.32 0.1737 4.19% 36.09% 79.14% Jul/23
Coal 130.85 -0.05 -0.04% -9.10% 19.06% Jul/22
Ethanol 1.92 0 0% 5.49% 8.78% Jul/22
Naphtha 815.28 31.83 4.06% 18.92% 48.65% Jul/22
Propane 0.75 -0.01 -1.64% 4.23% 4.82% Jul/22
Uranium 85.75 0.0500 0.06% 0.29% 18.19% Jul/22
Methanol 2,686.00 -6.00 -0.22% 5.50% 9.54% Jul/23
Urals Oil 80.73 7.61 10.41% 29.48% 26.42% Jul/22


Brent crude oil
Brent crude oil is one of the principal benchmark prices for oil traded globally. Originating from the North Sea, Brent serves as a key pricing reference for crude oil produced in Europe, Africa, and the Middle East, particularly for supplies moving westward. Due to its broad use in international trade, Brent is widely regarded as a global benchmark for oil pricing. Brent crude is typically classified as light and sweet, meaning it has relatively low density and sulfur content, making it easier to refine into products such as gasoline and diesel. Brent prices displayed on Trading Economics are based on over-the-counter (OTC) and contract for difference (CFD) financial instruments and are intended to provide a general market reference only. These prices do not represent official Brent crude benchmarks. The data is supplied by a third party and, while efforts are made to ensure its reliability, Trading Economics does not verify the data and makes no representations or warranties.
Actual Previous Highest Lowest Dates Unit Frequency
100.10 94.07 147.50 2.23 1970 - 2026 USD/BBL Daily

News Stream
Brent Rallies Toward $100
Brent crude oil surged more than 6% toward $100 per barrel on Thursday, the highest level since May 22, as escalating geopolitical tensions intensified concerns over global supply. Iran-backed Houthi militants claimed responsibility for attacks on two Saudi oil tankers in the Red Sea, saying the strikes were aimed at enforcing a newly announced blockade of Saudi ports. The attacks raised fears of further disruptions to regional shipping, with buyers in Asia considering longer and more expensive alternative routes. Supply risks were compounded by continued attacks on vessels in the Strait of Hormuz, renewed US strikes on Iran, and Kazakhstan's decision to halt crude exports through the Caspian Pipeline Consortium terminal after drone attacks. Meanwhile, Washington and Tehran continued to rule out near-term peace talks, reinforcing expectations that tensions could keep oil prices elevated.
2026-07-23
Brent Crude Oil is up by 5%
Brent Crude Oil increased 5% to 98.772 USD/Bbl
2026-07-23
Brent Crude Oil Tops $98
Brent crude oil surged 5% to around $98.5 a barrel on Thursday, the highest level since May 22, after fresh attacks on oil tankers near Saudi Arabia and renewed US threats against Iran heightened fears of supply disruptions. The UK Maritime Trade Operations agency reported that a tanker caught fire after being struck about 70 nautical miles southwest of Al Shuqaiq, with Yemen's Houthi rebels claiming responsibility, saying they had targeted two Saudi tankers with drones and missiles for violating their maritime blockade. The incident came hours after President Donald Trump warned that the US would strike an Iranian bridge or power plant every time Tehran attacked a vessel in the Strait of Hormuz, signaling a further escalation following the collapse of the US-Iran ceasefire. Iran responded by warning it would retaliate against US-linked infrastructure and energy assets across the region if Washington followed through on its threats.
2026-07-23