Oil prices surge above $100 a barrel for first time since May
Global oil prices have surged once again as tensions in the Middle East continue to escalate.
Brent crude has climbed above $100 a barrel for the first time since May.
While much of the focus has been on the strategic Strait of Hormuz, shipping through the Red Sea is also coming under growing threat after Yemen's Iran-backed Houthi rebels said they targeted two Saudi oil tankers.
The escalation comes as Donald Trump said he was considering a "massive attack" on Iran, prompting Tehran to warn it would hold accountable any country supporting a US strike.
Peter O'Brien reports.
US-Iran Strikes Pause as Houthis Hit Saudi Oil
- Oil price surge as war with Iran expands 📹 NBC News — · 2min
- Trump threatens 'major military punishment' after Houthi attacks on tankers in Red Sea PBS —
- War escalates, oil prices surge as Iran-backed Houthis strike Saudi tankers in Red Sea Los Angeles Times —
- Yemen's Houthis attack Saudi tankers in Red Sea, threatening to widen Iran war Korea Times —
- Trump vows to punish Iran and Houthis for attacks in Red Sea Al-Monitor —