Oil prices spike as Houthis say they struck Red Sea tankers
Oil prices spike as Houthis say they struck Red Sea tankers
Oil prices have jumped as the conflict with Iran escalates, this time with attacks on ships in the Red Sea by the Houthi militia group aligned with Tehran.
On Thursday, international benchmark Brent crude crossed the $100 mark, with futures trading at about $101 per barrel, up more than $25 from where it was trading during the U.S.-Iran ceasefire in July.
U.S. benchmark West Texas Intermediate crude futures were trading at about $92 per barrel, also up about $25 from their early July lows.
The war has sent oil prices fluctuating as the violence has threatened shipping through the Strait of Hormuz, a channel between Iran and the........
