Brent Crude Surges Past $100 as Middle East Conflict Escalates

The Brent Crude oil price has surpassed $100 per barrel due to escalating tensions in the Middle East. The conflict has widened, with Iran launching attacks on US allies and Houthi rebels targeting Saudi oil tankers.

The Strait of Hormuz remains largely paralyzed, while Houthi attacks continue in the Bab el-Mandeb Strait. Kazakhstan has halted oil exports through a major pipeline following Ukrainian drone strikes.

The latest surge has pushed global crude oil prices higher, with Brent crude trading at around $98 per barrel and West Texas Intermediate (WTI) standing at $90 per barrel. Both benchmarks have gained more than $10 per barrel since Monday.