Oil prices have surged past US$100 a barrel as Iran-backed Houthi rebels targeted Red Sea shipping and threats by US President Donald Trump to strike them in return sent equity markets slumping.

World oil prices soared Wednesday, with the benchmark international contract Brent North Sea crude surpassing $95 for the first time in nearly six weeks as the United States and…

Global supply disrupted by US-Iran aggression in strait of Hormuz and Houthi threats in Bab el-Mandeb