WTI surged above $100 as escalating Middle East conflict tightened physical oil supplies and threatened shipping through both Hormuz and the Red Sea.

Oil prices extended gains on Wednesday as escalating tensions between the U.S. and Iran fueled concerns over further disruptions to Middle East energy supplies.

Brent crude futures crossed $100 a barrel for the first time since July 24 as escalating U.S.-Iran tensions raised concerns over Middle East oil supplies. With disruptions to…

US Crude production hit a new record high...

Oil prices jumped 5% to above $100 a barrel as escalating US-Iran fighting and attacks on tankers raised fears of wider supply disruptions. Brent hit $106.60 while WTI crossed…