The Brent crude, a reference for Europe, skyrockets and is very close to 100 dollars per barrel amid escalating tensions in the Middle East, after new attacks by the Houthi rebels from Yemen against facilities in Saudi Arabia that have left at least 73 injured, in retaliation for the death of at least seven people in bombings by the coalition led by Riyadh.
At 12:00 hours, the Brent barrel is trading around 98.60 dollars, after having touched 99.40 dollars during the session, just shy of 100 dollars, a level it had not surpassed since July 23.
The West Texas Intermediate (WTI), a reference in the United States, advances in parallel and stands at 93.90 dollars per barrel, with a daily increase of over 2.5%, after having approached 95 dollars.
Hostilities have intensified between the Houthis and the coalition led by Saudi Arabia -- an international alliance created to protect the Red Sea from Houthi attacks -- with an exchange of bombings that keeps global trade on edge.
Late on Monday, the Houthi rebels reported the death of at least seven people, including a child, due to a series of attacks carried out during the day by the international coalition against the main prison in the Al Jauf governorate.
In response to the bombings, the Houthis attacked targets in Saudi territory leaving, according to Riyadh authorities, at least 73 injured, and the international alliance has already stated that it "will take all necessary measures and actions" to "neutralize" the Houthi rebels.
The instability in the Red Sea raises the risk of incidents in the Bab al Mandeb strait, one of the most relevant maritime corridors on the planet for the transport of goods, especially oil and other fuels traveling from the Persian Gulf to the Mediterranean and Asia. In July, this strategic passage was already the subject of Houthi attacks, which threatened to impose a maritime blockade on Saudi Arabia.
In this context, the Secretary General of the Gulf Cooperation Council (GCC), Jasem Mohamed al Budaiui, has unequivocally condemned the Houthi attacks against Saudi Arabia, which have included among their targets "national assets, civil infrastructure, and civilian targets," according to a statement released by the organization.
At the same time, commercial traffic in the Strait of Hormuz continues to be marked by uncertainty, after the United States has counted nearly one hundred vessels against which it has acted within the framework of its blockade of the strategic passage, among them more than 90 that have been "redirected" in the area.
Washington imposed the blockade in reaction to the navigation restrictions in the area applied by Iran after the offensive launched at the end of February. In recent days, the parties have staged new attacks, while the dialogue mediated by Pakistan to try to reach a peace agreement that ends the conflict in the Middle East remains stalled.
Iranian authorities have reiterated that they will maintain their resistance against the United States until "the aggressors repent," although they have again expressed their rejection of an open war. "The Islamic Republic of Iran has always opposed war and has considered that preserving the interests of the people and the security of the region involves avoiding provoking conflicts," emphasized the president of Iran, Masud Pezeshkian, in a message on social media.
With oil prices nearing 100 dollars, markets practically take for granted a new restrictive turn in the monetary policy of the European Central Bank (ECB) this week, in the face of rising inflationary pressures driven by the increase in energy costs.