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Line chart showing WTI crude oil prices surging more than 6 percent to a new high in July 2026.

Yemen's Houthi militants claimed missile and drone strikes on two Saudi oil tankers in the Red Sea, a scenario flagged only hours earlier as a tail risk rather than the likely outcome. WTI crude jumped 6.2% to its highest level since before the June ceasefire between Washington and Tehran, extending a fifth consecutive session of gains. The move follows a separate blockade declaration near the Bab el-Mandeb Strait earlier in the week, adding a second point of pressure on oil supply routes within days.

This chart is presented for general informational purposes only and does not constitute financial, investment, tax, or legal advice. Figures reflect the source and period indicated and may no longer be current.

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