The price of Brent crude oil reached $100 per barrel for the first time since May

The price of Brent crude oil reached $100 per barrel for the first time since May, according to The Financial Times. Futures surged 6.3% after reports emerged of attacks by Iran-backed Houthi militants on tankers in the Red Sea. This escalation threatens to further reduce global oil supplies and reignite a global inflationary shock, the FT reports.

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