Global oil prices climbed sharply on Thursday, with Brent crude approaching the $100-per-barrel mark after Yemen’s Houthi rebels claimed responsibility for attacks on two Saudi oil tankers in the Red Sea.
Brent North Sea crude, the international benchmark, jumped five per cent to $98.80 per barrel, while the US benchmark, West Texas Intermediate (WTI), rose 3.8 per cent to $90.11 per barrel.
The surge followed concerns that the reported attacks could widen tensions in the Middle East, raising fears of potential disruptions to global oil supplies and adding further pressure to energy markets.
