Brent North Sea Oil Surges to $100 Amid Middle East Tensions
The price of Brent North Sea oil surged to $100 per barrel on Thursday after an attack by Yemen's Houthi rebels on oil tankers in the Red Sea.
Brent oil prices rose more than six percent, reaching a new high as the attacks opened up a potential new front in the Middle East conflict. President Donald Trump threatened the Houthi rebels with 'major military punishment' in response to the attack.
The main US oil contract, West Texas Intermediate (WTI), also rallied, gaining 5.0 percent and reaching $91.19 per barrel.