Oil prices surge toward $100 as Red Sea attacks escalate

Oil prices have surged toward $100 a barrel following a series of Houthi attacks in the Red Sea. The attacks have amplified supply risks and deepened a broader oil shock, with tensions also rising near the Strait of Hormuz. In response, President Trump has vowed to punish Iran for its alleged role in supporting the Houthis. Despite the danger, Chinese oil tankers have continued to head toward the Red Sea chokepoint.