Oil prices near $100 a barrel after US attacks Iran and Houthis hit tankers in Red Sea – business live

Per The Guardian, oil prices have climbed toward one hundred dollars a barrel as Red Sea tensions escalate. The Houthis announced a naval blockade of Saudi Arabia on Monday, and traders worry that escalating attacks from Yemen and Iran could disrupt crucial shipping routes. On Thursday, two Chinese supertankers carrying four million barrels of Saudi Arabian oil are attempting to transit the Bab el-Mandeb strait — testing how effectively the blockade holds.

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