Oil Prices Spike Amidst Gulf Tensions

Insurance rates through Hormuz are currently four times the five-year average.

Oil prices have jumped as the conflict with Iran escalates, this time with attacks on ships in the Red Sea by the Houthi militia group alligned with Tehran. On Thursday, international benchmark Brent crude crossed the $100 mark, with futures trading at about $101 per barrel, up more than $25 from wh