The oil price has risen above $98 a barrel for the first time since early June after Iran-backed Houthi militants said they had attacked two Saudi Arabian tankers in the Red Sea.

We went from the low 70s to the 90s in a matter of weeks! This is just bs. It's like a rollercoaster.. a terrible one at that.

Cause it seems like reality is finally catching up.

Oil prices leap to $100 a barrel after attacks in Red Sea

Oil prices hit $100 a barrel on Thursday for the first time since May, after attacks by Iranian-backed Houthi militants in the Red Sea threatened to squeeze global supplies further and reignite a global inflation shock.

Brent crude, the international benchmark, rose 6.6 per cent to $100.28, extending a blistering rebound this month amid fears that the US and Iran are headed for a return to full-blown conflict.

Its easy to see with oil gone, Russia on the bench, both the red sea and the hormoooz in jail. China has done the calculation and 7 months from now people and trucks wont be able to drive in the USA, unless they have China EVs. Xi is a genius.

This is the only reputable source I could find atm, but here's what's showing up in my telegram feed as well

⚡️ UK Maritime Trade Operations: A report was received of an incident 70 nautical miles off Al-Shaqiq, Saudi Arabia.
🔹According to received reports, Saudi Arabia's first oil tanker was hit by a missile 70 kilometers north of the Yemeni border and is on fire.
🔹It is said that the ship's capacity was approximately 500,000 barrels and it had departed from Yanbu.
• 21:19 — UK Maritime Operations Authority: Report of an incident 70 nautical miles from Ash Shuqaiq, Saudi Arabia. (Rasd Akhbar Shehaba)

The Houthis are also saying they have an announcement to make soon regarding a "significant military operation."

EDIT: screenshot of the UKMTO warning that I just found.

https://bsky.app/profile/shipwreck75.bsky.social/post/3mrbb45qjfc22

Edit 2: official statement from ansarullah (houthis)

—❗️🇸🇦/🇾🇪 NEW: Yemen’s Ansarallah announces they targeted two Saudi oil tankers, ‘ENCELIA’ and ‘LAYLA’ with ballistic missiles and drones

In total, they forced more then 10 Saudi oil tankers to turn back since the naval blockade began.

Edit 3: there's footage of the tanker that was hit, on fire

https://reddit.com/link/1v3tnie/video/w62n2htepueh1/player

This sub is far from the average AKSHUALLY IM MORE RIGHTER feel most of Reddit has. Im quite happy that the posts and replies here are more cooperative and have good, healthy discussions void of arrogance and smarter than thou. But most importantly there seems to be a lack of political bullshit.

So, thank you fellow participant for keeping this place bullshit free. Thanks for keeping the discussion sane and realistic in light of the impending doom. Its just nice to be part of a healthy sub where people want to discuss and learn rather than be righter than you.

PS see yall at the Oil Barrons Ball when it hits $.69 a barrel because theres a serious fucking glut coming.

EDIT. Yes. I am serious and not sarcastic. Nor do I think a former TV moron who’s obsessed with girls and hung around other child loving people who shits his britches mid presser while simultaneously trying to hoodwink the population by draining a reserve to artificially suppress oil prices is qualified to do, anything. Really. Kinda sucks our lives are being effected. Im Canadian and all I wanna do is read, play GTA 3 again, keep restoring my GMT800, chill with the wife, and hang with my dogs.

Oil to $50