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What’s worse than one Strait being under attack…?

Brent targets $100 as Houthis declare naval blockade on Saudi Arabia; Asia refined products rally substantially; gasoil cracks breach $70
Published: July 23, 2026
Written by:
Vincent Wu

Vincent Wu

Research Associate, Flux
Vincent Wu
,
Martha Dowding

Martha Dowding

Research Associate, Flux
Martha Dowding
and
Donna Dong

Donna Dong

Research Analyst, Flux
Donna Dong
16 page report
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The US has concluded its twelfth night of strikes on Iran. As in Twelfth Night, this all starts with a shipwreck, with attacks on the Strait (of Hormuz, now we need to clarify) restarting this weekend.

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Written by

Vincent Wu

Research Associate, Flux
Vincent Wu

Martha Dowding

Research Associate, Flux
Martha Dowding

Donna Dong

Research Analyst, Flux
Donna Dong

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