Oil prices set to end week over $100 for first time in nearly 4 months

Oil prices are inching closer to the $100 mark as shipping routes come under rising attack. The Houthi grip on Yemen's Mocha port poses risks to Red Sea transport, while tankers in the Strait of Hormuz face threats that limit vessels in the Gulf. Diesel prices in the U.S. have soared past six dollars per gallon, and China's ongoing crude purchases might worsen supply disruption effects.