Oil Prices Surge Amid Middle East Turmoil | Dubai News

Oil prices surge past $100 a barrel for the first time since mid-May, driven by escalating Middle East tensions and attacks disrupting key shipping lanes. Despite brief dips after diplomatic efforts with Iran, weekly gains mark the steepest rise in weeks. Houthis now control a vital Yemeni port, while tanker strikes near the Strait of Hormuz threaten long-term supply stability. In the U.S., diesel hits a record $6 a gallon, fueled by both regional conflict and Ukrainian strikes on Russian refineries. The rally’s sustainability hinges on China’s demand — the world’s largest crude buyer — whose continued purchases could push prices even higher, as physical oil flow becomes the true determinant of market direction. Listen in comfort:Get a discount on a Soli Pillow: http://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/a9dd0b218a858882