Houthi Attack Sends Oil Prices Soaring to $104 Amid Middle East Tensions

Oil prices have surged to $104 after Yemen's Houthi rebels launched a drone strike on Riyadh, Saudi Arabia. The attack occurred in the early hours of the morning and targeted oil facilities.

The increase in oil prices is attributed to rising tensions between Iran and its Gulf neighbors, including Saudi Arabia. The conflict has led to concerns about supply disruptions and increased volatility in global markets.

Oil prices have been on a steady rise over the past few weeks due to a combination of factors, including production cuts by major oil-producing countries and geopolitical tensions in the Middle East.

The price surge is expected to impact fuel prices globally, particularly in regions reliant on imported oil. Consumers may see higher prices at the pump as a result of the increased cost of crude oil.