Oil hits $100 per barrel
The Hill · C · trust 58/100
Oil prices have jumped as the conflict with Iran escalates, this time with attacks on ships in the Red Sea by the Houthi militia group aligned with Tehran.
On Thursday, international benchmark Brent crude crossed the $100 mark, with futures trading at about $101 per barrel, up more than $25 from where it was trading during the U.S.-Iran ceasefire in July. U.S. benchmark West Texas Intermediate crude futures were trading at about $92 per barrel, also up about $25 from their early July lows. The war has sent oil prices fluctuating as the violence has threatened shipping through the Strait of Hormuz, a channel between Iran and the Arabian Peninsula through which much of the world’s oil typically flows. Meanwhile, Houthi rebels in Yemen said Thursday that they attacked two Saudi oil tankers in the Red Sea, which is situated on the other side of the Arabian peninsula. Attacks there threaten the oil being shipped through this route after Iran blocked off the Strait of Hormuz.
Welcome to The Hill’s Energy & Environment newsletter, I’m Rachel Frazin — keeping you up to speed on the policies impacting everything from oil and gas to new supply chains.
Did someone forward you this newsletter? Subscribe here.
President Trump has thrown the Saudi nuclear deal into question less than 24 hours after it was signed, making it conditional on the Saudis normalizing relations with Israel.
The Trump administration on Wednesday announced what it described as a peaceful nuclear cooperation agreement with Saudi Arabia, hailing it as an economic triumph. But critics and nuclear experts have raised concerns around safeguards to prevent Riyadh from developing a nuclear weapon.
A bill that seeks to mitigate data centers’ impacts on Americans’ electric bills is gaining steam in the House, as lawmakers face pressure to act in the face of sharp backlash to the sprawling AI infrastructure.
President Trump on Thursday expanded his pledge that aims to have data centers “pay their own way” for the electricity they use, but he took the opportunity to defend data centers at the same time.
Roughly two dozen Democratic-led states sued the Trump administration Thursday over its latest set of conditions for receiving Federal Emergency Management Agency (FEMA) grant funds.
News we’ve flagged from other outlets touching on energy issues, the environment and other topics :
Lawmakers on the Senate Banking Committee on Thursday took the unusual step of delaying a public hearing to consider three of President Trump’s nominees, after Sen. Elizabeth Warren (D-Mass.) said their FBI background checks raised “significant questions.” Read more
A new outbreak of cyclospora, the parasite capable of giving you “explosive” diarrhea, that has not been linked to the previously recalled lettuce is now under investigation by the U.S. Food and Drug Administration. Read more
You’re all caught up. See you tomorrow!
Read the original at The Hill →
Open in TruthVane →