Economy

Brent Crude Touches $100 as Iran War Threatens Two Shipping Chokepoints

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Courtroom-sketch editorial illustration of a concerned stock-exchange specialist seated beside market screens as oil prices surge

Brent crude briefly touched $100 a barrel Thursday, its highest level in two months, as the Iran war and Houthi attacks intensified fears of supply disruption. The international benchmark rose more than 6%, while U.S. West Texas Intermediate climbed about 5% to $91.19. Iran has already disrupted traffic through the Strait of Hormuz, and the Iran-backed Houthis' strikes on two Saudi tankers opened a second threat at the Bab el-Mandeb gateway to the Red Sea. The price surge renewed inflation concerns and weighed on global equity markets.

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