Oil prices jumped to $100 per barrel after Iran-backed Houthi rebels attacked two Saudi tankers in the Red Sea. The move sharply raised concerns about supply risks in a key shipping route and quickly pushed energy markets higher.
The attack on the Saudi vessels added fresh tension to an already sensitive region for global oil flows. When transport routes appear vulnerable, traders often react fast, and that pressure helped drive the latest spike in crude prices.
At the same time, President Trump imposed a new round of tariffs, replacing duties that were expiring with a broader set of new trade measures. The tariff action added another layer of uncertainty for businesses and markets already dealing with higher energy costs.
Together, the oil surge and the latest tariff changes point to a tougher economic backdrop, with investors watching both geopolitical risks in the Red Sea and the potential fallout from renewed U.S. trade pressure.
