Oil surges past $100 in a first since May as Middle East conflicts rage
- EDITOR'S ANALYSISHouthi blockade for now is shaping who moves Saudi crude, not whether it moves, analysts say, even as oil prices soar.
- As oil prices hit $100 a barrel on Thursday, experts say they are watching to see which vessels Yemen’s Houthis allow to pass through in the Red Sea as that will indicate how the crude market trends.
- Brent futures rose $6.58 or 6.96 percent, to $100.65 a barrel, exceeding $100 for the first time since late May.
Confirmed
- As oil prices hit $100 a barrel on Thursday, experts say they are watching to see which vessels Yemen’s Houthis allow to pass through in the Red Sea as that will indicate how the crude market trends.
Unverified
- EDITOR'S ANALYSISHouthi blockade for now is shaping who moves Saudi crude, not whether it moves, analysts say, even as oil prices soar.
- Brent futures rose $6.58 or 6.96 percent, to $100.65 a barrel, exceeding $100 for the first time since late May.
Sources: Al Jazeera