Brent crude jumped above $100 a barrel in late trading after Houthi rebels said they had attacked Saudi oil tankers in the Red Sea, raising fresh concerns about supply disruptions. The move marked a sharp gain of more than 6% and pushed the international benchmark to its highest level in about eight weeks.
US crude also extended its advance for a second consecutive session, climbing more than 5% to nearly $92 a barrel. The back-to-back rise in both major oil benchmarks reflected growing anxiety that tensions around a key shipping route could tighten supply and unsettle global energy flows.
The surge in crude prices quickly fed into broader market worries. Higher oil costs tend to increase pressure on inflation, and that can influence expectations for interest rates as well as bond yields. Investors were watching the price spike as a sign that geopolitical risks remain a major factor for commodities and financial markets.
With Brent back above the $100 level, attention is now turning to whether the latest jump becomes a short-term reaction or the start of a more sustained move higher. For now, the reported Red Sea attacks have added a new layer of uncertainty to energy markets already sensitive to supply threats and rising transport risks.
