Middle East Tensions Send Oil Prices Soaring Past $100

Oil prices surged above $100 per barrel on Thursday as tensions in the Middle East escalated. Brent crude, the global benchmark, rose 6.5% to $100.17 per barrel from the previous close of $94.07.

The increase was driven by concerns over potential disruptions to crude supplies following reported attacks on Saudi oil tankers and an explosion involving a vessel in the Strait of Hormuz.

US President Donald Trump warned that Washington would hold Iran responsible if the Houthi group launched further attacks on commercial shipping, accusing Tehran of directing the group's actions.