Middle East Conflict Pushes Brent Crude Oil Prices Above $100 per Barrel

A series of attacks in the Middle East has pushed Brent crude oil prices above $100 per barrel, as tensions between the US, Israel, and Iran continue to escalate.

The Houthi movement in Yemen, backed by Iran, struck Saudi oil facilities on Saturday, causing damage to a major refinery that can process up to 400,000 barrels of oil per day.

The attack was followed by airstrikes from the US-led coalition against Houthi targets in Yemen, including missile launch sites and drone bases.

The pause in US military strikes on Iran, which lasted for a day, has raised speculation about diplomatic efforts to ease tensions.