Oil closed in on US$100 a barrel after Iran-backed Houthi militants said they attacked two Saudi Arabian tankers in the Red Sea. Read more.

The attack on ships in the Red Sea threatened to expand the conflict and severely impact global oil supplies already hobbled by the blockade of the Strait of Hormuz.

Oil prices surged past $100 a barrel on Thursday as Iran-backed Houthi rebels targeted Red Sea shipping as threats by US President Donald Trump to strike them in return sent…

Audio version of Brent nears $100 as Houthi attacks deepen supply fears