US crude oil futures rise above $106 a barrel after Kuwaiti tanker attack

US crude oil futures rose 3.4% to above $106 a barrel after reports that a Kuwaiti oil tanker was hit in an attack in Dubai, according to Bloomberg.

The price jump reflects growing concerns over supply disruptions as tensions escalate in the Middle East.

The gains build on a broader surge in oil markets, with US crude settling above $100 a barrel earlier for the first time since 2022.

Analysts say continued attacks on energy infrastructure and shipping routes are fuelling volatility and pushing prices higher.