Oil Price Today (October 8): Crude oil jumps 2% to $102 amid rising attacks on ships in Middle East. What lies ahead?

Oil prices climbed on Thursday, with Brent crude surpassing $102 a barrel as Middle East tensions and attacks on Gulf shipments heightened supply concerns. WTI also rose nearly 2%. Falling US crude inventories added support, while analysts warned prolonged Strait of Hormuz disruptions could push prices significantly higher, potentially toward $120.