Oil prices soared on Thursday after Iran's Houthi allies struck two vessels carrying Saudi oil in the Red Sea as clashes in the Middle East continue to escalate.
Brent crude, the international benchmark, jumped 5.44% and clocked in at $99.14 per barrel at 8:38 a.m. ET, while West Texas Intermediate, the U.S. benchmark, soared 4.34% and stood at $90.60 per barrel at the same time. The former later topped $100 per barrel.