Oil prices surged approximately 3% following Houthi strikes on Saudi Arabia and Iranian attacks on vessels in the Gulf. Brent crude futures rose to $107.54 per barrel, while West Texas Intermediate reached $102.93 per barrel. These disruptions threaten up to 4% of global oil supply. Prediction markets now price a 3.8% likelihood of crude oil reaching a new all-time high by September 30, up from 2% twenty-four hours ago. OPEC and the International Energy Agency are closely monitoring the situation.
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