Brent crude crossed the symbolic $100 threshold on Wednesday, September 9, hitting an intraday high of $100.19, a first since late May. Houthi strikes against four cities in southern Saudi Arabia caused fires at Saudi Aramco facilities, including the Jazan refinery processing 400,000 barrels per day, leaving 73 injured. Flows through the Strait of Hormuz have dropped below 2 million barrels per day from 8 to 9 million before hostilities resumed on August 30. Goldman Sachs raised its Brent forecast to $85 for December and does not rule out a scenario hitting $120 in case of further escalation. On crypto markets, Bitcoin slipped to around $78,300 to $78,700, down roughly 4% from last week’s peak.
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