Brent's oil exceeded $85, and oil supply concerns in the Middle East increased

Brent crude oil prices rose to above $85 per barrel on 16 July, influenced by oil supply concerns in the Middle East region and by United States strikes against Iran. Iran informed Yemeni Al-Houthi that if Iran ' s electricity infrastructure was attacked, the Red Sea channel would be blocked. The Red Sea channel is an important lifeline for Saudi Arabian oil exports, and oil transport in the Strait of Hormuz was disrupted by the Iranian war。