Global oil prices have surged back to the $100-per-barrel mark as escalating tensions between the United States and Iran, along with attacks across the Middle East, fuel concerns over prolonged disruptions to crude supplies.
Brent crude briefly touched $100 per barrel, reaching its highest level since July, while US crude rose to around $94 per barrel.
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Both major oil benchmarks have gained more than 60% so far this year, reflecting growing concerns over the impact of geopolitical tensions on global energy supplies.
Markets are closely monitoring developments in the Middle East, with investors worried that further escalation could disrupt oil production and transportation routes and push prices even higher.
