WorldThe GuardianOil prices jump to five-month high as attacks threaten global supply
Oil prices hit a five-month high after Houthi attacks on Saudi Arabia and tanker strikes near the strait of Hormuz rattled global energy markets.
Iran’s IRGC says it hit four vessels in the northern Gulf and three more struck mines near the strait of Hormuz
Oil prices jumped to a five-month high after attacks on Saudi Arabian targets and tanker strikes near the strait of Hormuz threatened global crude supply.
Brent crude rose 3% to $112 a barrel, the highest since May, as Houthis killed two people at a Saudi airport and hit a Saudi oilfield with drones.
Global stocks wobbled on fears of higher inflation and borrowing costs, with the US ordering diplomats to leave Saudi Arabia amid escalating tensions.
Brent crude rose 3% to $112 a barrel, which could push petrol prices higher at the bowser in coming weeks if tensions continue to escalate.
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