Geopolitical developments crucial in determining how long prices remain high, analysts say

Oil prices surged past $100 a barrel on Thursday as Iran-backed Houthi rebels targeted Red Sea shipping as threats by US President Donald Trump to strike them in return sent…

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.

Brent crude has surged past $100 as escalating Middle East tensions threaten two critical oil chokepoints — the Strait of Hormuz and Bab el-Mandeb — at the same time. While…