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

Oil prices hit a six-week high on Wednesday, with Brent crude racing past ninety-five dollars a barrel. The growing tensions between the U.S. and Iran have sparked fears of supply…

Oil prices hit a six-week high on Wednesday, with Brent crude racing past ninety-five dollars a barrel. The growing tensions between the U.S. and Iran have sparked fears of supply…