Global Oil Price Nears $100 a Barrel as Conflict With Iran Deepens
NYT > Business·July 23, 2026
Global oil prices are nearing $100 a barrel due to escalating tensions with Iran. The conflict has intensified after the Houthis claimed responsibility for attacking two ships in the Red Sea. Additionally, a third ship caught fire near the Strait of Hormuz, further heightening concerns about oil supply disruptions. Rising geopolitical tensions in the region are driving up crude oil prices, affecting the global energy market.
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