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Oil prices hover near $100 a barrel after attacks on Saudi oil tankers
Summary by The Detroit Editorial Desk · Based on reporting by AP via Scripps News Group , WXYZ Channel 7 (ABC Detroit) - News
· July 23, 2026
· 2 min read
Oil prices are jumping again Thursday as increased fighting in the Middle East threatens to slow the global flow of crude. The price for a barrel of Brent crude oil, the international standard, climbed 6.1% to $99.78. Earlier in the morning, it briefly topped $100 and touched its highest price in...
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Summary created by The Detroit Editorial Desk — automated, rule-governed Original reporting AP via Scripps News Group, WXYZ Channel 7 (ABC Detroit) - News Original story Read at the source Source published Jul 23, 2026 Indexed here Jul 23, 2026 AI assistance Automated summary drawn from the source’s own published text Prepublication human review No — editorial rules, flagged-item review, and published samples
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Key takeaway Earlier in the morning, it briefly topped $100 and touched its highest price in two months following attacks on two Saudi oil tankers in the Red Sea.
Why this matters in The Detroit
For Detroit residents, the surge in oil prices to near $100 a barrel has immediate implications for their daily commutes and household budgets. As gas prices hit an average of $4 a gallon, locals can expect to pay more at the pump, affecting their ability to get to work, school, and other essential destinations. This increase also threatens to raise costs for businesses, potentially leading to higher prices for goods and services. In a city where many residents rely on their vehicles for transportation, the impact of rising oil prices will be felt acutely. Furthermore, the potential for inflation to reaccelerate and interest rates to rise could slow down Detroit's economic growth, making it more challenging for residents to afford homes and invest in their communities. As the situation unfolds, Detroiters will be watching closely to see how these global events affect their local economy and daily lives.
About this story
Original reporting by WXYZ Channel 7 (ABC Detroit) - News . The Detroit surfaces reporting from trusted publishers and adds local editorial context so readers can quickly understand what a story means for their community. We attribute every source, link to the original report, and follow a documented editorial standards policy. To understand how stories are selected and reviewed, read our about page .
For the complete original report, visit WXYZ Channel 7 (ABC Detroit) - News . Have a tip or correction? Contact our newsroom .
Category: local ·
Published: July 23, 2026 ·
Source: WXYZ Channel 7 (ABC Detroit) - News ·
Reading time: 2 min
Frequently asked about this story
What is this story about? Oil prices are jumping again Thursday as increased fighting in the Middle East threatens to slow the global flow of crude. The price for a barrel of Brent crude oil, the international standard, climbed 6.1% to $99.78. Earlier in the morning, it briefly topped $100 and touched its highest price in...
When was this published? This article was first published on July 23, 2026 by WXYZ Channel 7 (ABC Detroit) - News and curated for The Detroit readers.
Who reported this story? This story was reported by AP via Scripps News Group at WXYZ Channel 7 (ABC Detroit) - News. To learn more about how The Detroit selects and reviews stories, see our editorial standards .
Where can I find related coverage? See more local coverage from The Detroit, or browse our daily briefing and topic hubs .
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