Brent Crude Surges Past $100 as Middle East Tensions Escalate

Global oil prices have surged as tensions in the Middle East continue to escalate. Brent crude futures rose to $100.50 per barrel, reaching their highest level in two months. This marks a significant increase from previous levels and highlights concerns over regional stability.

The ongoing geopolitical tensions have disrupted shipping activity through the Strait of Hormuz, one of the world's most critical oil transit routes. According to reports, only one oil tanker transited the strait on Thursday, carrying approximately 2 million barrels of Iraqi crude oil to Rizhao Port in China.

The decline in tanker traffic has heightened fears of potential supply disruptions, contributing to the continued rally in international oil prices. West Texas Intermediate (WTI) crude also gained sharply, trading at $91.65 per barrel in the global market.