Oil Prices Soar Amid Saudi Facility Attacks and Iran's Economic Threats

Oil prices surged to multi-week highs on Tuesday after Iran-backed Houthis attacked Saudi energy facilities and Tehran threatened the United States with 'economic warfare'. Brent crude futures rose $2.00, or 2.06%, to $99.00 a barrel by 0800 GMT.

The attack on Saudi Arabia's energy facilities halted operations at some of its plants, wounding 73 people in what Saudi authorities called a dangerous escalation.

Iran also fired an advanced missile at U.S. warships, underscoring the risks of further escalation in the war.