Just weeks after crude prices had fallen on hopes that the Middle East was easing, oil has staged a sharp comeback. Fresh attacks on Saudi oil tankers in the Red Sea and a disruption to Kazakhstan's exports have revived fears over global supplies, sending prices beyond the $100-a-barrel mark.

Oil prices rise 2% amid escalating risks in Hormuz and the Red Sea as US strikes on Iran continue.

Crude oil prices extended their rally on Wednesday, with Brent crude holding above the $90-a-barrel mark as escalating tensions in the Middle East kept investors focused on the…