Oil Prices Reach $100 Per Barrel Following Red Sea Tanker Attacks

Why it matters locally: Rising oil prices and new federal tariffs could impact the cost of goods and transportation for consumers and businesses across Pennsylvania, including its significant manufacturing and agricultural sectors.

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Oil prices reached $100 per barrel following an attack on two Saudi tankers in the Red Sea. Houthi rebels, identified as being backed by Iran, carried out the attack. In a separate development, President Trump announced a new set of tariffs. These new tariffs replace previous ones that had expired.