Houthi Attacks Send Oil Prices Soaring Past $100 Per Barrel

Oil prices have surpassed $100 per barrel, putting pressure on both Washington and Riyadh. The Houthi attacks on Saudi Arabia's energy infrastructure are exposing the kingdom's vulnerabilities in the Strait of Hormuz.

The US is feeling the effects of high oil prices, with regular gasoline reaching around $4.22 per gallon and diesel approaching $6. Brent crude has risen about 25% over the past month.

John King, founder of Q Advisory, attributes the supply disruptions to rising oil prices, while fears of further attacks are driving a geopolitical premium estimated at $15 to $16 per barrel.