Oil Prices Jump on Middle East Tensions Amid Diplomatic Stalemate

Oil prices surge as Middle East attacks continue and diplomacy falters. WTI futures rise 2.16% to $102.2 per barrel and Brent futures up 2.14% at $106.8 per barrel. Houthi rebels claim to have launched a large-scale missile and drone attack against Saudi Arabia, while a UKMTO alert reports a vessel in the Strait of Hormuz was struck by an unknown projectile. Oman's Foreign Minister announces the postponement of a meeting between Gulf states and Iran due to a lack of consensus, further fueling bullish sentiment in oil markets.