Brent crude rises to $97.54 after Houthi attack and Iran tanker strikes

Brent crude rose 0.6% to $97.54 a barrel, after briefly touching $99.46, as markets reacted to the Houthi missile attack on Saudi oil facilities combined with ongoing US-Iran strikes on tankers in the Strait of Hormuz corridor.

Why this matters. Oil nearing the $100 mark signals traders are pricing in sustained disruption to both Saudi production and Hormuz transit, a level that could trigger further US strategic reserve releases or diplomatic intervention.