From 1h agoOil prices jump 4% after attacks on tankers near YemenOil prices have jumped by 3.7% this morning as the backlash from the US war in Iran appeared to spread to the Red Sea.The price of futures for Brent crude oil, the global benchmark, rose by 3% on Thursday to reach as high as $97.45 per barrel, approaching the $100 mark for the first time since May.Oil prices have surged back to almost $100 a barrel as the US-Israeli war on Iran showed no signs of abating. Photograph: RefinitivThe price of futures for the North American benchmark, West Texas Intermediate, also rose by 4% as high as $89.85, the highest in more than a month.It came as the US launched a 12th consecutive night of strikes against Iran, while the Iran-aligned Houthis in Yemen attacked Saudi Arabian oil tankers in the Red Sea – threatening to choke another global oil export route.Online trading platform Saxo said the attacks prompted more vessels to divert from the Bab el-Mandeb strait by Yemen, “creating what analysts describe as a two-chokepoint problem for oil”.The other chokepoint is the strait of Hormuz, which Iran has effectively closed in an effort to put economic pressure on Donald Trump to stop the US and Israeli attacks.Key events26m agoEasyJet profits hit by higher oil prices1h agoOil prices jump 4% after attacks on tankers near Yemen2h agoCarmakers privately lobbied UK government to revoke 2035 ban3h agoBritish Gas owner cutting 1,300 jobs3h agoBurnham to cut business rates for pubs, clubs and live music by 20%EasyJet profits hit by higher oil pricesJoanna PartridgeAn easyJet Airbus A319 aircraft takes off from Nantes Atlantique Airport in Bouguenais near Nantes, France, in April 2026. Photograph: Stéphane Mahé/ReutersThe low-cost airline easyJet has revealed a 70% slide in profits because of soaring fuel costs and later bookings as a result of the conflict in Iran, only weeks after it agreed to a £5.7bn takeover.The carrier reported a pre-tax profit of £85m between April and June compared with £286m during the same period a year earlier, as its fuel costs increased by £105m after the outbreak of hostilities in the Middle East in late February sent energy prices rocketing.It came as two US investment firms vie to buy easyJet. The airline’s board originally accepted the fifth bid from Castlelake, worth £5.5bn, but then recommended a higher bid from Apollo Global Management, worth £5.7bn, or more than £7 a share. However, a potential EU review of airline ownership has cast a question mark over the deal.EasyJet said customer bookings had begun to improve, but passengers were continuing the trend of booking their trips just before departure.The company said the outlook for the remainder of its financial year was dependent on “important remaining bookings, as well as fuel prices, which continue to be volatile”.You can read the full story here:The threat of higher oil prices is not just a problem for oil users: higher inflation could push central banks to raise interest rates as well.Analysts led by Henry Allen, at Deutsche Bank said the seven-week high for oil: