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Geopolitical tensions trigger surge in global oil prices

Global oil prices jumped by more than 2% during Thursday's trading session, driven by market anxiety over potential supply chain disruptions. The rise stems from intensifying geopolitical tensions in the Middle East, specifically following Houthi attacks on Saudi Arabia, which have raised fears of a broader conflict and its subsequent impact on energy supplies. By early trading, Brent crude futures for December delivery rose by 2.36% to $111.39 per barrel, while U.S. West Texas Intermediate (WTI) crude for December delivery climbed 2.14% to $99.23 per barrel, following a mixed performance in the previous day's market.