Commodities
Oil Prices Soar Amid Middle East Tensions
Oil prices surged on Tuesday as Brent crude futures touched $99.18 per barrel, its highest level since July 24, while US West Texas Intermediate (WTI) rose to $94.44, a level last seen in June 8.
The sharp increase came after attacks by Iran-backed Houthis on energy facilities in Saudi Arabia, the world's largest oil exporter, which left 73 people wounded and halted operations at some facilities.
The incident marked a dangerous escalation according to Saudi authorities, who also reported that Iran threatened the US with 'economic warfare' and fired an advanced missile at US warships.