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Brent Crude Breaks $100 per Barrel on July 23, Up Over $20 from Early July Low

2026-07-24 02:23:27

According to Investing.com on July 23, Brent crude oil surged past $100 per barrel, rising more than $20 from early July lows. Macquarie's Bikas Dwivedi, global energy strategist, expects oil to maintain strength in the coming weeks as Persian Gulf supply availability decreases. The rally reflects renewed geopolitical risk premium and large-scale short position liquidation. Overnight gains accelerated after Houthi militants attacked two Saudi Arabian vessels, reigniting concerns over critical shipping routes including the Strait of Hormuz and Red Sea.

Disclaimer: The information on this page may come from third-party sources and is for reference only. It does not represent the views or opinions of Gate and does not constitute any financial, investment, or legal advice. Virtual asset trading involves high risk. Please do not rely solely on the information on this page when making decisions. For details, see the Disclaimer.

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