Brent crude is now just a heartbeat away from the $100-a-barrel mark. The global benchmark has continued to inch higher towards the psychologically important mark but is yet to breach it, even as escalating tensions in the Middle East fuel concerns over disruptions to global energy supplies.

Brent crude remains below $100 despite Middle East supply disruptions as alternative routes, higher non-OPEC output and weaker demand offset shortages.

Brent crude moved closer to $100 as renewed U.S.-Iran tensions and threats to Gulf shipping raised fears of prolonged oil supply disruptions.

Brent crude oil futures hit a more than six-week high on Wednesday (Sep 9).

Brent crude is now just a heartbeat away from the $100-a-barrel mark. The global benchmark has continued to inch higher towards the psychologically important mark but is yet to…