Geopolitical tensions continue to escalate, oil prices rise for the fifth consecutive day, reaching a six-week high

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智通财经2026/07/23 07:31

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On Thursday, international oil prices rose for the fifth consecutive trading day. Brent crude oil futures once surged 4.15% to $97.74 per barrel, reaching a new high since June 8. US WTI crude oil futures touched $89.63 per barrel, both hitting their highest levels in nearly six weeks. Yemen’s Houthi forces launched an attack on an oil tanker in the Red Sea. This, combined with clashes between US and Iranian forces hindering shipping in the Strait of Hormuz, has heightened market concerns over oil supply.
The Iranian Revolutionary Guard stated that an oil tanker exploded and caught fire while attempting to navigate a “mine-laden channel” south of the Strait of Hormuz, while two other tankers have already turned back. The Revolutionary Guard announced that the strait is under its control and is now “completely sealed off,” warning that no oil tanker is allowed to enter or exit the strait without Iranian coordination.
Meanwhile, the Houthi forces allied with Iran have opened a new front, launching attacks on vessels transporting Saudi oil in the Bab-el-Mandeb Strait and attempting to impose a naval blockade on Saudi Arabia. The Houthis claim to have carried out military operations against two Saudi oil tankers, one of which, flying the Saudi flag, was attacked in the Red Sea. They further state that about 10 ships have already been forced to turn back.
Analysts point out that simultaneous transportation disruptions in both the Bab-el-Mandeb Strait and the Strait of Hormuz create a rare geopolitical risk premium for oil prices. However, sustained oil price increases would require proof of prolonged shipping disruption or an actual substantial supply interruption.
US forces have carried out strikes against Iran for the 12th consecutive night. Previously, US President Trump vowed that “for every time Iran fires at a ship in the Strait of Hormuz, the US will destroy an Iranian bridge or power plant.” The Iranian Revolutionary Guard has warned that the southern channel of the Strait of Hormuz is now mined, further exacerbating supply concerns.

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智通财经•2026/08/16 20:26