Global crude oil prices surged past the $100 per barrel mark on Thursday for the first time since May, sending shockwaves through international energy markets. Brent crude futures catapulted by over six percent in afternoon trading to settle at $100.60 per barrel. The sharp increase came in the wake of Houthi attacks on oil tankers, which disrupted key shipping routes and stoked fears of supply shortages. Analysts warn that sustained prices above $100 could fuel inflation and raise costs for consumers worldwide, particularly in import-dependent nations. The development marks a significant milestone in the ongoing geopolitical tensions affecting global energy security.
Article source: egyptdailynews.com | Image credit: x.com