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Oil jumps above $114 to a five-month high after Houthi attacks on Saudi energy sites stoke fuel cost fears

Oil jumps above $114 to a five-month high after Houthi attacks on Saudi energy sites stoke fuel cost fears

Saudi Aramco ordered staff out of its Dhahran headquarters while the clashes escalated. December Brent futures reached $114.64 after a four per cent jump on Thursday, and US crude also climbed above $100. Washington and Israel have reportedly drawn up plans to strike Iran after the US midterms. Shell and BP shares rose, while the FTSE 100 opened largely unchanged at 10,727.92.

Climbing crude raises fears of higher fuel and transport bills for households.

Thursday's AI sell-off sent the Nasdaq down 2.6%, its worst day since June.

Meta lost 7% despite beating revenue forecasts, shedding tens of billions in value.

MoreGB NewsOil prices hit five-month high as Middle East conflict fears intensifyThe GuardianSharp drops for AI stocks overwhelm markets worldwide as oil prices jumpLBCStocks rattled by fears over tech sell-off and rising oil pricesAPAsian shares slip as sharp drops for AI stocks overwhelm markets worldwide and oil prices jumpReutersIndian shares subdued as rising crude prices eclipse IT gainsReutersWall Street sinks as Nasdaq falls over 2% on AI cost worriesNYTStocks See Steepest Decline in Months Amid A.I. WorriesCBS NewsNasdaq dives more than 750 points as investors worry massive AI spending won't pay off
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