RBC Capital Markets told clients that tighter supply and less production than expected outside the Middle East could mean crude hits $US130 a barrel next year.

The global crude oil price is rising towards $100 per barrel as renewed fighting in the Middle East heightens fears of supply disruptions. Read more.

Brent oil price crosses $100 as the Middle East conflict, Houthi attacks and Strait of Hormuz disruptions raise fears of a global oil supply shock. | Business News

Attacks on energy sites raise concerns over key maritime corridors

Iranian retaliation and Yemeni militia group's attacks in Saudi Arabia heighten concerns