Commodities
Brent Crude Nears $100 as US-Iran Tensions Escalate
Oil prices surged more than 2% on Tuesday as escalating tensions between the US and Iran pushed Brent crude towards $100 per barrel.
The international benchmark climbed above $99 a barrel by 2020GMT, driven by concerns over potential supply disruptions in the Middle East.
A series of attacks on Saudi Aramco facilities, including one that hit the Jazan refinery, has added to fears that oil production and shipments from the region could be disrupted.
Iranian-backed Houthi militants claimed responsibility for targeting the refinery, which supplies 400,000 barrels per day to Saudi Arabia's domestic market.