Oil prices surge towards $100 a barrel following Houthi attacks on Red Sea tankers and escalating Middle East tensions.

Brent crude futures jumped approximately 4%, pushing prices towards $100 per barrel, after Houthi militants claimed responsibility for attacks on two Saudi tankers in the Red Sea. This development has intensified concerns about escalating conflict between the U.S. and Iran, threatening crucial oil flow routes and stoking fears of renewed inflation. The rise in oil prices also contributed to higher government bond yields, particularly in Europe.