Business · 24 July 2026
Oil falls below $100 a barrel despite attacks on Saudi Arabian ships
The cost of Brent crude dropped nearly 2%, but at roughly $99 it stays well above the pre-conflict rate of $72. Supplies remain squeezed after two Saudi vessels were reportedly struck overnight near Yemen, where Iran-backed Houthi rebels are blockading the strait. UK gas prices have also slipped from their March peak, though European heatwaves are keeping them elevated as people blast their air conditioning.
Reported by Sky News · How we write briefs