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

World oil prices surged past $95 a barrel as US-Iran strikes intensify, impacting global markets. Get the latest on crude futures and market reactions.

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.

Benchmark rises sharply over fears Houthi militia could strangle Saudi exports as US-Iran fighting intensifies