Dubai: Brent crude jumped as much as 5 per cent on Thursday after Houthi rebels claimed they had struck two Saudi oil tankers in the Red Sea, raising concerns that the Middle East conflict could widen.Oil prices advanced for a fifth consecutive session. Brent reached an intraday high of $98.80 a barrel, while US benchmark West Texas Intermediate climbed as much as 3.8 per cent to $90.11.By 0640 GMT, Brent futures were up $2.42, or 2.6 per cent, at $96.49 a barrel, their highest level since June 8. The contract had gained more than $3 in the previous session to settle at $94.07, close to a six-week high.Justin is a personal finance author and seasoned business journalist with over a decade of experience. He makes it his mission to break down complex financial topics and make them clear, relatable, and relevant—helping everyday readers navigate today’s economy with confidence.
Before returning to his Middle Eastern roots, where he was born and raised, Justin worked as a Business Correspondent at Reuters, reporting on equities and economic trends across both the Middle East and Asia-Pacific regions.
