Brent Crude Surges Past $100 as Middle East Tensions Escalate

Brent crude has surpassed $100 per barrel for the first time since May, fueled by concerns over supply disruptions in the Middle East. The benchmark rose 37 cents to $101.06 a barrel on Friday, with traders worried about the impact of escalating tensions between Iran and the US.

The attacks on Saudi oil tankers in the Red Sea have added to fears of supply shortages, as analysts warn that Brent could reach $120 per barrel if geopolitical tensions escalate further.

Two critical oil shipping routes are under pressure, with only one tanker crossing the Strait of Hormuz on Thursday. The Bab el-Mandeb Strait has also emerged as a flashpoint after Houthi rebels declared a naval blockade on Saudi Arabia and targeted tankers.