Oil Surges Past $100 as Middle East Tensions Threaten Global Supplies

Oil prices surged past $100 a barrel Thursday as Middle East tensions escalated and threatened global oil supplies. The surge in Brent crude futures was driven by concerns over security in the Strait of Hormuz, the world's most important oil shipping chokepoint.

The International benchmark Brent crude traded at $100.17 per barrel at 4:16 p.m. local time (1316 GMT), up around 6.5% from the previous close of $94.07. US benchmark West Texas Intermediate (WTI) traded at $91.54 per barrel, up around 5.46% from $86.80 in the previous session.

US President Donald Trump warned that Washington would hold Tehran accountable if the Yemeni Houthi group attacks commercial vessels. The threat comes after reported attacks on Saudi oil tankers and an explosion involving a vessel in the Strait of Hormuz.

The tensions rose further after Iran's military warned it could target energy facilities across the region if US strikes on Iranian infrastructure continued.