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Oil Crosses $100 a Barrel as Houthis Strike Tankers in Red Sea
The Hindu·Friday, 24 July 2026
International benchmark oil prices crossed $100 per barrel as Houthis struck tankers in the Red Sea, the first such attacks since a Saudi-linked shipping blockade via Bab el-Mandeb. The West Asia conflict is escalating with fresh maritime strikes. External Affairs Minister Jaishankar also stated at the East Asia Summit that international waterways must remain safe and unimpeded.
Why It Matters
When oil crosses $100 a barrel, fuel prices in India tend to rise, pushing up costs for transport, cooking gas, and almost everything else you buy.
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