Oil hits $100 as Saudi supply fears and Libyan disruptions rattle markets

WTI crude oil hit $100 per barrel on Friday, Oct. 23, while Brent traded above $113, as threats to Saudi Arabian supplies and Libyan disruptions fueled volatility and raised global energy security concerns. US benchmark West Texas Intermediate rose 0.53 percent to $100, with Brent up 0.34 percent to $113.60. Saudi Aramco evacuated its Dhahran headquarters Thursday amid Houthi fighting near the Bab Al-Mandab shipping chokepoint, while a pipeline valve shutdown reduced output at two Libyan oilfields. Japan is considering scaling back gasoline subsidies as early as December due to funding shortfalls, with proposals allowing pump prices to rise to 175 yen per liter. Traders are watching for actual damage to Saudi energy infrastructure and the pace of Libyan output recovery.