Oil Prices Blast Past $100 as Middle East Tensions Escalate

Oil prices surged past $100 a barrel on Wednesday after a series of attacks in the Middle East. The U.S. military destroyed five Iranian tankers in the Gulf of Oman, while Houthi rebels set oil facilities ablaze in Saudi Arabia.

The strikes were part of a multibillion-dollar shadow network that funds the Islamic Revolutionary Guard Corps and its regional proxies, according to military officials.

Secretary of State Marco Rubio said Tuesday that the Houthis are 'in many ways, agents and proxies of the Iranians,' and that 'behind some of this is clearly the Iranian hand.'