Brent crude briefly moved above $100 a barrel on Tuesday, reaching about $100.03 for the first time in roughly three months, as Houthi attacks on southern Saudi Arabian energy sites added to supply concerns. The attacks included the Jazan area, where Saudi Aramco operates a refinery with capacity of roughly 400,000 barrels per day. Middle Eastern crude shipments are already near 11 million barrels per day, down from about 18 million barrels per day before the U.S.-Iran conflict began. Alternative export routes, continued traffic through the Strait of Hormuz and rising non-OPEC production had helped keep Brent below $100 despite the disruption, while an expected 1.4 million-barrel-per-day increase from U.S., Canadian and Guyanese supply, along with China’s large oil inventories and weaker demand, limited gains. Brent has now recovered from July lows near $72, leaving the market testing whether $100 can become support. Goldman Sachs raised its oil forecasts and said Brent could exceed $120 a barrel if average Gulf production in 2027 remains 4 million barrels per day below pre-war levels. The bank’s base case is still a smaller supply deficit and an average Brent price of about $80 in 2027, but its estimate for Brent trading above $100 in March 2027 rose to roughly 25% from about 6% a month earlier. OPEC+ offered no immediate additional supply relief after seven producers agreed Sunday to keep October required production at September levels, with the next review set for Oct. 4. Pressure is also building in refined products: European diesel crack spreads (refining-margin indicators) recently exceeded $100 a barrel for the first time, while wholesale diesel prices approached $200 a barrel. Diesel costs affect trucking, agriculture, construction and freight. The EIA (U.S. Energy Information Administration) reported national refinery utilization at 98% in the latest week, while commercial crude inventories fell to about 424.5 million barrels, leaving the market facing crude above $100, unusually tight diesel supply and limited spare refining capacity.