Oil futures surge above $100 on Gulf shipping disruption risks
Oil futures surged midday Thursday as escalating attacks on Gulf shipping and renewed Houthi strikes on Saudi Arabia raised concerns over disruptions to global energy supplies. Both crude benchmarks crossed $100/bbl on Thursday, with West Texas Intermediate above $100/bbl for the first time since May.
Oil futures climbed sharply midday Thursday as escalating attacks on Gulf shipping and renewed Houthi strikes on Saudi Arabia intensified concern about disruption to global energy supplies. Both crude benchmarks moved above $100/bbl on Thursday, with West Texas Intermediate above that level for the first time since May. As of 11:25 a…