# Oil Prices Surpass $100 Amid Middle East Export Squeeze Tensions in the region severely restrict oil exports. - **Source:** [Forbes - Business](https://brifing.si/source/e0310925-a7af-4d4b-80a7-c80d400e49fa) - **Published:** 2026-07-23 - **Topic:** [Business](https://brifing.si/c/business) - **Original article:** - **On Brifing:** https://brifing.si/s/826fbca8-109d-4343-975f-f6c5390fa9c1 ## Rising Oil Prices Oil prices surpassed $100 for the first time since May due to escalating tensions in the Middle East. Brent crude reached $100.68 in London. ## Issues in the Strait of Hormuz Attacks and tensions in the Strait of Hormuz have significantly impacted oil exports. The strait, which carried 11.4 million barrels daily in January and February, became effectively unusable after February. ## Threats from Yemen Iran-backed Houthi rebels in Yemen began disrupting shipping in the Bab El-Mandeb Strait, linking the Red Sea to the Gulf of Aden. This has also jeopardized Saudi Arabia's alternative routes. ## Saudi Arabia's Alternative Efforts Saudi Arabia shifted its oil exports from the Strait of Hormuz to the East-West pipeline leading to Yanbu. However, Houthi attacks now threaten this route as well. ## The US Role in the Region The US continues its military operations against Iran while warning the Houthis of 'major military punishment.' These tensions are reflected in oil prices. ## The Future of the Oil Market As tensions in the Middle East persist, oil prices are unlikely to drop. Export bottlenecks and geopolitical risks are expected to impact the market for a long time. ## Sources covering this story - https://www.forbes.com/sites/gauravsharma/2026/07/23/oil-prices-top-100-on-cargo-squeeze-from-the-middle-east/ — --- _Summary written by Brifing from the original reporting. Copyright in the original article belongs to its publisher; read the full piece at the link above._