Archive · 30 Jul 2026
Oil Prices Drop 1% as Tankers Keep Sailing Through Bab el-Mandeb
Oil prices went down a little on Thursday because people were worried about new fighting between the US and Iran.
Even though there were attacks, many oil ships were still moving through a key waterway called the Bab el-Mandeb Strait.
This shows that the supply of oil is still flowing.
The US Central Command said it was striking Iranian targets after Iran tried to hit US troops in Jordan.
A drone also attacked a US-owned tanker in Egypt.
Traders think the shipping route is keeping oil from running out, but they keep a close eye on any new attacks that could hurt oil supplies.
Brent crude fell to $89.46 and WTI to $83.54, a drop of about 1%.
US Central Command launched renewed strikes on Iranian targets after Iranian missile attacks on US troops in Jordan.
A drone attack hit a US‑owned tanker at Egypt’s Damietta port, involving two LNG vessels.
Around 39 commodity carriers passed through the Bab el-Mandeb Strait on Tuesday, showing continued shipping activity.
Oil traders focus on shipping flows rather than the latest military escalations, keeping markets sensitive to Middle East developments.
- Who
- US Central Command, Iranian targets, US troops, Saudi forces, Egyptian authorities
- What
- Oil prices fell 1% as tankers continue to pass through Bab el-Mandeb Strait
- When
- Thursday
- Where
- Bab el-Mandeb Strait, Damietta port, Egypt
- Why
- Market assessment of renewed US‑Iran tensions and ongoing shipping activity
- Brent price
- $89.46 per barrel
- WTI price
- $83.54 per barrel
- Price change
- -1%
- Commodity carriers through Bab el-Mandeb
- 39
- Alternative route
- Bab el-Mandeb Strait