Due to the attack on a Saudi Arabian oil tanker in the Red Sea and further escalation of military conflict in the Middle East, international crude oil futures prices soared on the 23rd, with the September contract price of London Brent crude oil futures surpassing $100 per barrel (about 408.56 ringgit).
This is the first time since May that Brent crude oil prices have surpassed $100 per barrel. The tanker attack in the Red Sea has heightened market concerns about a further tightening of global crude oil supply, which may once again push up global inflationary pressures.
At the close of trading that day, the price of light crude oil futures for September delivery on the New York Mercantile Exchange rose by $5.36 to close at $92.19 per barrel, an increase of 6.17%; the price of London Brent crude oil futures for September delivery rose by $6.62 to close at $100.69 per barrel, an increase of 7.04%.