Brent Crude Surges 4% to Over $95, Nears 6-Week High as Conflict Threatens Key Oil Transit Routes

Summary

Brent crude surged 4% to over $95 a barrel, reaching a six-week high, due to escalating tensions between the U.S. and Iran. Threats from the Houthi militia are also disrupting oil tanker operations in the Red Sea, raising fears of supply disruptions.