Oil prices jump 4%... Brent crude surpasses $105 per barrel

Oil prices jumped by approximately 4% on Thursday, as fears of supply disruptions intensified amid escalating attacks on shipping traffic in the region.

Brent crude futures rose by $4.05, or 4%, to $105.26 per barrel, while the U.S. West Texas Intermediate (WTI) crude climbed by $3.99, or 4.15%, to $100.04 per barrel.

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U.S. crude surpassed the $100-per-barrel mark for the first time since May, amid growing market concerns over continued energy supply disruptions as tensions in the region escalate.