Main oil contract Brent North Sea surged toward US$100 a barrel on Thursday (Jul 23) as Tehran-backed Houthi rebels targeted Red Sea shipping, raising fears that the Middle East war is widening.

Brent crude rises above $100 amid Middle East conflict fears. New all-time high by December 31 at 16% YES.

Investors eye US stockpile data for fresh clues on durability of oil’s rally

Brent crude surged above $100 a barrel after Houthi rebels claimed attacks on Saudi oil tankers in the Red Sea, escalating supply concerns. Rising crude prices intensified…