Brent crude reached $98.82 a barrel and West Texas Intermediate reached $90.67 a barrel on July 23, 2026, according to multiple reports. The national average U.S. gasoline price stood at $4.09 per gallon. Houthi rebels claimed strikes on two Saudi tankers in the Red Sea the prior day.
“Global oil prices climb close to $100 a barrel amid attacks in Red Sea”
Read at CBS News →“Oil hits $100 for first time since May - Financial Times”
Read at Financial Times →No right-leaning sources covered this
The price surge increases costs for working families and highlights the need to accelerate the transition away from fossil fuels and Middle East supply routes.
“Emphasizes household budget impacts and the case for renewables and efficiency standards”
The spike demonstrates the costs of U.S. energy policies that restricted domestic production and the security risks from Iran-backed groups in the Red Sea.
“Focuses on policy restrictions, national security, and consumer costs”
Price movements represent market signals of risk that allow voluntary adjustments; monetary policy expectations add further distortion.
“Highlights individual choice, market pricing, and effects of state interventions”
All three views accept the Houthi claim as the verified driver without examining alternative market or liquidity factors or verifying physical supply impact.
“Questions shared causal assumptions and untested transmission mechanisms across perspectives”
Ratings by MBFC