Reuters: Oil prices surpass $100 per barrel for the first time since May

Reuters reported that oil prices surpassed $100 per barrel at Thursday’s settlement for the first time since last May, following the announcement by the Houthis in Yemen that they were targeting two Saudi oil tankers, which heightened disruptions to global oil shipments through the Red Sea and the Strait of Hormuz.

Brent crude futures rose by $6.62, or 7 percent, to close at $100.69 per barrel, marking the highest closing level since May 22.

As a result, standard Brent crude prices have risen by approximately 40 percent since the outbreak of the war with Iran last February.