Brent tops $100 as Red Sea tensions rise

Oil prices surged above $100 a barrel as Houthi attacks on two Saudi oil tankers in the Red Sea heightened fears of supply disruptions through key chokepoints like Bab al-Mandeb and the Strait of Hormuz. Brent topped or hovered around the $100 mark across multiple reports, with gains driven by renewed Middle East tensions and the prospect of extended disruptions to crude flows. Market analysts warn that reduced shipping routes and higher insurance costs could amplify inflationary pressures and complicate policy decisions worldwide. The flare-up comes amid broader US-Iran tensions and renewed efforts for a ceasefire, with investors watching how maritime routes serving Saudi exports might be affected. President Trump has warned Iran would be held responsible for any future Houthi attacks, signaling a hardline stance as the crisis evolves. The incidents are described as the Houthis’ first enforcement action against their blockade of Saudi shipping, underscoring the fragility of regional energy supplies.