Brent crude futures rose to $100.50 per barrel, reaching their highest level in the past two months as concerns over regional stability intensified
LONDON: (UrduPoint/Pakistan Point News-July 24th, 2026) Escalating tensions in the middle East have continued to drive up global oil prices, with Brent crude climbing above the $100-per-barrel mark for the first time in two months.
Brent crude futures rose to $100.50 per barrel, reaching their highest level in the past two months as concerns over regional stability intensified.
Meanwhile, West Texas Intermediate (WTI) crude also gained sharply, trading at $91.65 per barrel in the global market.
The ongoing geopolitical tensions have also disrupted shipping activity through the Strait of Hormuz, one of the world’s most critical oil transit routes. The number of oil tankers passing through the strait has dropped to its lowest level in two months, raising concerns over global energy supplies.
According to reports, only one oil tanker transited the Strait of Hormuz on Thursday.
The vessel, identified as New Giant, was carrying approximately 2 million barrels of Iraqi crude oil and passed through the strategic waterway before heading to Rizhao Port in China. The decline in tanker traffic has heightened fears of potential supply disruptions, contributing to the continued rally in international oil prices.
