Tehran5:50 p.m. July 23
Iran War Live Updates: Oil Prices Hit $100 a Barrel After Attacks in Red Sea
The price of Brent crude soared after Iran’s Houthi allies in Yemen claimed strikes on two Saudi tankers. President Trump warned that the U.S. would hold Iran directly responsible for further attacks by the group.
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The price of oil hit $100 a barrel on Thursday for the first time since May, as worries grew that a widening conflict would choke another shipping route after Iran’s Houthi allies in Yemen claimed to hit two Saudi tankers in the Red Sea.
The Houthis’ strikes were the first since the group announced a blockade on Saudi ships this week. After the United States and Iran launched more strikes overnight, President Trump said on social media on Thursday that he would hold Iran responsible for any further Houthi attacks in the Red Sea and threatened to widen the conflict to include the Yemeni group
Eshe Nelson
ОтветитьУдалитьJuly 23, 2026, 9:56 a.m. ET
Eshe NelsonEconomics and business reporter
The “flaring up” of the conflict and rise in energy prices has worsened the outlook for the European economy, Christine Lagarde, the president of the European Central Bank said on Thursday. Lagarde said at a news conference in Frankfurt that the Houthi attacks in the Red Sea were “alarming” and clearly aggravating energy prices.
She was speaking after policymakers chose to hold interest rates steady. Last month, the E.C.B. became the first major central bank to raise rates in response to the war.
Rebecca F. Elliott
July 23, 2026, 9:12 a.m. ET
Rebecca F. Elliott
Global oil price hits $100 a barrel for first time since May.
How much the international benchmark costs
Jan.
March
May
July
0
20
40
60
80
$100 per barrel
Oil Prices Hit $100 a Barrel After Attacks in Red Sea: Iran War Live Updates - The New York Times
Notes: Data shows future contract prices for Brent crude oil. Gaps indicate nontrading hours. Data is delayed at least 15 minutes.Source: FactSet.
Global oil prices hit $100 a barrel on Thursday for the first time since May as the widening war between the United States and Iran stifled the flow of energy in the Middle East.
The price rebound in Brent crude oil over the past few weeks reflects the market’s growing concern about the expanding conflict, which now extends from the Persian Gulf to the Red Sea. Both arteries are vital to the global energy trade.
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Where the Iran war has escalated this month
U.S.
intensively
bombed Iran over
consecutive days.
Attacks
IRAN
targeted U.S.
military sites in
the region, as well
as commercial shipping.
IRAQ
jordan
kuwait
BAHRAIN
qatar
u.a.e.
egypt
SAUDI
ARABIA
oman
Red
Sea
Arabian
Sea
YEMEN
HOUTHIS
claimed attacks
on tankers.
SUDAN
Source: Critical Threats Project at the American Enterprise Institute (Houthi area of control).Samuel Granados/The New York Times
ОтветитьУдалитьEuan Ward
July 23, 2026, 8:36 a.m. ET
Euan WardReporting from Beirut, Lebanon
President Trump warned on Thursday that the United States would hold Iran directly responsible for further Houthi attacks on shipping, threatening “major military punishment” against both Tehran and the Houthis if attacks on Saudi tankers in the Red Sea continued. Trump said on social media that the Houthis had “acted very responsibly” since a U.S. offensive against the group last year and throughout the war with Iran this year, but added that he was “very disappointed” by the renewed attacks.
Euan Ward
July 23, 2026, 6:01 a.m. ET
Euan WardReporting from Beirut, Lebanon
Oman said on Thursday that it was coordinating with Saudi Arabia, Yemeni groups and the U.N. envoy to Yemen to resume diplomacy to de-escalate the growing conflict. Oman has mediated for years between Saudi Arabia and Yemen’s Iran-backed Houthi rebels.
The Omani comments were published a day after the Houthis, who declared a naval blockade on Saudi-linked shipping this week, claimed missile and drone strikes on two Saudi oil tankers in the Red Sea. The escalation has threatened to open a new front in the broader Iran war.
Edward Wong
ОтветитьУдалитьJuly 23, 2026, 5:37 a.m. ET
Edward WongReporting from Manila
Secretary of State Marco Rubio said the main U.S. goal on Iran is to ensure it can never develop a nuclear weapon. “Our issue, and our concern, and our focus, is denuclearizing Iran,” he told reporters while in Manila. “They can never have a nuclear weapon.”
President Trump had said repeatedly that he had destroyed Iran’s nuclear program with the U.S. military attack on three Iranian nuclear sites in June 2025. Iran, however, has a stockpile of highly enriched uranium that is widely believed to be stored deep underground, and that it enriched further after Trump withdrew from an Obama-era nuclear deal in 2018.
Image
Credit...Pool photo by Brendan Smialowski
Edward Wong
July 23, 2026, 5:08 a.m. ET
Edward WongReporting from Manila
Rubio told reporters that the Houthis had been smart earlier to stay out of the war. “I hope that will de-escalate because I think the Houthis, frankly, got snookered into this thing by the Iranians,” he said. “They should stay out of it.”
Qasim Nauman
July 23, 2026, 4:47 a.m. ET
Qasim Nauman
Secretary of State Marco Rubio said on Thursday that the United States would continue to strike Iran until its leadership was serious about making a deal. “The problem with Iran is every time they make a deal, the people that are in charge there, they either break it or they want to change it,” Rubio told reporters during a visit to the Philippines.
“The price will continue to get higher every single night until they come to their senses,” Rubio added. “Maybe in a few days, they’ll be ready to make a deal once they realize that this is not a winning proposition for them.”
Laura Stevens
July 23, 2026, 1:06 a.m. ET
Laura Stevens
Global oil price nears $100 a barrel.
How much the international benchmark costs
July 19
July 20
July 21
July 22
July 23
90
95
$100 per barrel
Oil Prices Hit $100 a Barrel After Attacks in Red Sea: Iran War Live Updates - The New York Times
Notes: Data shows future contract prices for Brent crude oil. Gaps indicate nontrading hours. Data is delayed at least 15 minutes.Source: FactSet.
Strikes on tankers in the Red Sea on Thursday by the Iranian-backed Houthi militia group added to fears about shipping oil out of the Middle East, pushing up crude prices to $100 a barrel and threatening to destabilize the global energy market.
The Houthis claimed to have attacked two Saudi oil tankers in the Red Sea after threatening a blockade in the region. And Iran’s Islamic Revolutionary Guards Corps said one of three oil tankers trying to pass through a “mined route” south of the Strait of Hormuz caught fire after an explosion, prompting the other ships to turn back, according to a statement carried by Iran’s official state news agency.
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Pranav Baskar
July 22, 2026, 8:12 p.m. ET
Pranav Baskar
Houthis claim strikes on 2 Saudi oil tankers in the Red Sea.
Image
A satellite image of the Bab al-Mandab Strait earlier this month.Credit...NASA Worldview, via Reuters
The Iranian-backed Houthi militant group in Yemen claimed on Wednesday that it had targeted two Saudi oil tankers with missiles and drones in the Red Sea. It would be the first such attack since the group announced a blockade aimed at Saudi Arabia.
The Houthis said in a statement that the Encelia and the Layla were violating the blockade. The group claimed that the strikes had caused large fires to break out on both vessels. Saudi Arabia’s transportation authority confirmed an attack the Encelia in a statement published by state media, and said the ship’s crew was safe after a fire broke out. It did not specify the attack’s origin or mention the other tanker the Houthis claimed to have struck.