Oil soared to $100 on more Middle East violence

Oil prices soared more than 6% on Thursday, climbing above $100 a barrel for the first time since May as Iran-aligned Houthis in Yemen attacked two Saudi oil tankers in the Red Sea and President Trump used the B-1 heavy bomber in the most recent attacks on Iran.

At least two tankers were turned away from the Bab el-Mandeb Strait after Yemen’s Houthis said they have struck two Saudi tankers in the chokepoint in the latest Middle East war escalation, saying they had violated the naval blockade that the Yemeni forces declared earlier this week.

According to reports, one of the tankers was loaded with Saudi crude for India and the other was carrying oil to China.

The President threatened to expand the U.S. attacks on Iran and there were reports of expanded numbers of U.S. troops being introduced to the Middle East region. More focus was put on the President’s planned targeting of Iranian power plants and bridges.

Brent crude futures expiring in September rose 7.4% or nearly $6 to settle at $101.08 a barrel.

The U.S. benchmark, West Texas Intermediate climbed 6.8% or more nearly $5 a barrel to close at $92.75 on the New York Mercantile Exchange.

Natural gas finished down $0.006 or 0.21% at $2.919 MMbtu.

Thursday was a split day for Oklahoma energy stocks. LSB Industries gained more than 3% but Stardust Power dropped 5%.

Alliance Resource Partners LP