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Brent crude oil surges to $100 a barrel for first time since May after reports of Red Sea attacks

New York Post · back to the audit

Stocks plunged Thursday as oil prices jumped to $100 a barrel for the first time since May following reported Houthi attacks on vessels in the Red Sea -- fueling concerns that global energy supplies could get even more badly disrupted. The Dow Jones Industrial Average fell 548 points, or 1.1%, while the S&P 500 and Nasdaq dropped 1.4% and 2.5%, respectively -- breaking a streak of traders shrugging off concerns. Brent crude oil prices had soared 6% to $100 a barrel, while West Texas Intermediate crude jumped 5.6% to $92, setting the benchmarks up for huge monthly gains of roughly 40% and 30%, respectively.