Oil surges 6%, Brent and US crude both surpass $100 on more tanker attacks

Oil prices climbed over one hundred dollars per barrel on Thursday amid escalating attacks on shipping lanes. The surge was driven by fears of supply disruptions sparked by the Houthis' capture of a Yemeni port, posing significant risks to Red Sea navigation. Market analysts suggest that China's oil buying habits will be pivotal in determining the trajectory of future prices.