Global oil prices have climbed closer towards US$100 a barrel on Thursday afternoon, with the conflict between Iran and the US showing no sign of de-escalating.

Crude oil prices surged above $94 per barrel on Wednesday, extending their rally to fresh five-week highs as the conflict

Oil prices surged past $100 a barrel on Thursday as Iran-backed Houthi rebels targeted Red Sea shipping as threats by US President Donald Trump to strike them in return sent…