Oil at $110 a barrel amid Houthi and Ukraine strikes
Business
Oil prices just shot up to $110 a barrel, mainly because of new attacks on Saudi Arabia by Iran-backed Houthi militants and Ukraine's strikes on Russian oil sites.
All this drama has made the global market pretty jumpy, with traders worried about possible supply disruptions.
Brent settles $109.55 US oil $103.66
Brent crude hit an intraday high of $110.70 before settling at $109.55, while US oil closed at $103.66, even as traders weighed possibly higher Russian supplies hitting the market after US sanctions relief on Friday.
The takeaway? The oil market is super sensitive right now, and everyone's watching closely to see what happens next.