Oil prices surged past $100 a barrel for the first time in seven years after Houthi rebels attacked Saudi tankers in the Red Sea—no injuries, but markets reacted sharply. With global tensions and rising demand already straining supplies, this move underscores how fragile energy markets are amid Middle East instability, Iran alignment, and ongoing Ukraine conflict. Analysts warn prices will remain volatile as geopolitical risks ripple through global fuel prices and consumer costs.
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