Brent Crude Nears $100 as Middle East Conflict Escalates

Brent crude oil prices surged by 3% on Tuesday, bringing the global benchmark perilously close to the $100 per barrel threshold.

The spike was driven by escalating U.S.-Iran tensions and widening regional conflict that threatens critical shipping lanes in the Strait of Hormuz.

Analysts at Goldman Sachs and Wood Mackenzie warn that any direct disruption to Iranian exports or retaliatory strikes on Gulf infrastructure could instantly push prices well above $100, creating a sustained inflationary shock.