Brent Crude Nears $100 as US-Iran Tensions Escalate

Oil prices surged on Friday, driven by escalating tensions between the US and Iran. The conflict has raised concerns over potential disruptions in Middle Eastern supply and pushed Brent crude towards $100 a barrel.

The Strait of Hormuz remains a key focus for energy markets, with a sharp decline in vessel traffic through the waterway sparking fears that prolonged disruption could restrict global crude supplies.

Oil prices had already climbed to six-week highs earlier in the week, driven by renewed US strikes on Iran and heightened threats in the region. The latest gains came after the United States and Iran resumed military exchanges, with Washington striking three Iranian crude oil tankers.