US says it’s clearing Hormuz traffic: Why are oil futures beyond $100?
Brent crude crosses $107 as Hormuz disruptions and Saudi pipeline shutdown threaten global oil supply.
President Donald Trump says the United States is making progress in reopening the Strait of Hormuz and escorting more oil through the waterway, yet oil prices have jumped in recent days.
The recent attacks on shipping in the Strait of Hormuz and Saudi energy infrastructure have also pushed crude prices up, with Brent crude rising $3.21 to $107.82 a barrel.
The apparent contradiction between US claims and surging oil prices shows the reality on the ground is complicated at best.
On Tuesday, the Yemeni group hit civilian and economic sites in the cities of Abha, Khamis Mushait, Jizan and Najran, injuring 73 people, among them women and children.