Oil Prices Soar to $100 Per Barrel Amid Rising Tensions

Oil prices surged to their highest levels in nearly two months after the latest escalation of tensions between Iran and Saudi Arabia.

The Brent crude oil benchmark rose by 7% to $100.69 per barrel, its highest level since May 31st.

This increase follows a series of attacks on Saudi oil tankers in the Red Sea, which has raised concerns about disruptions to global energy supplies.

U.S. crude oil also jumped for a second straight day, closing higher by 6.2% at $92.19 per barrel, its highest close since June 4th.