Oil's $100 comeback: Brent hits a three-month high as Red Sea tensions escalate
Brent crude oil prices surpassed $100 per barrel following Houthi attacks on Saudi oil tankers in the Red Sea. The escalation has triggered global market concerns regarding energy supply chain disruptions.
Why it matters
Geopolitical instability in key energy-producing regions directly impacts global inflation and domestic fuel costs.
Crude price today: Oil prices have skyrocketed back in triple-digit territory as fresh tensions in the Middle East sent global markets on edge. Brent crude climbed above $100 per barrel on Thursday for the first time since May after Yemen's Houthi group claimed responsibility for attacking two Saudi oil tankers in the Red Sea, raising worries about oil supplies.The attacks pushed crude prices sharply higher as traders watched for possible disruptions to oil and gas supplies from the region.
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