Oil Surges Above $100 as US-Iran Conflict Disrupts Shipping

Oil prices surged to their highest levels in four months this week as escalating hostilities between the United States and Iran disrupted global energy shipping corridors, pushing Brent crude above $100 a barrel and intensifying inflation fears ahead of key central bank decisions. Brent crude futures rose nearly 6 percent overnight to about $109.97 a barrel on Friday, after touching an intraday high of $108.77 earlier in the session, according to market reports. West Texas Intermediate traded around $104 a barrel after crossing the $100 mark for the first time since May. Both benchmarks posted their highest closing levels since May 19, with oil advancing more than 18 percent in September alone. Since the Iran war began at the end of February, WTI has surged 52.9 percent, bringing its year-to-date gain to 78.5 percent. The rally reflects mounting supply concerns. Oil flows remain constrained through the Strait of Hormuz amid US-Iran hostilities, while Iran-aligned Houthis seized Yemen's port of Mocha on Thursday, threatening Red Sea traffic and raising fresh concerns over Saudi oil exports.