Oil Surges Past $100 in a First Since May as Middle East Conflicts Rage The latest escalation of tensions in the Middle East has sent oil prices soaring past $100 for the first time since May.
The fragile global economy is on edge, with the widening conflict between Iran, the United States, and Yemen's Houthi rebels creating a perfect storm that threatens to disrupt global energy supplies and exacerbate inflation.
The attacks by the Houthis on Saudi oil tankers in the Red Sea are a stark reminder of the risks facing the world's most critical shipping lanes.