The dual disruption of Hormuz and Bab el-Mandeb is tightening global oil flows, raising transport costs and fueling expectations of $100 oil. Friday, July 24, 2026The double blockade of the Strait of Hormuz and the Bab el-Mandeb has turbo-boosted oil prices this week, with both ICE Brent and WTI gaining $10 per barrel on the week. President Trump’s usual Friday posts notwithstanding, oil-deprived refiners across the globe will soon push oil back above $100 per barrel. Houthis Open 2nd Front Against Saudi Oil Flows. Pakistan Lets the Market Set Fuel Prices.