Oil Price Surges Past $100 a Barrel as Iran Intensifies Attacks on Gulf Shipping Routes

Oil markets have gone through a sudden jolt. In the past few days, the Oil Price, especially Brent crude, has climbed above $100 a barrel again. This is a level not seen since 2022. The main reason is the growing conflict in the Middle East, especially near the Strait of Hormuz, where Iran has stepped up attacks on commercial tankers and shipping lanes. These events have sparked fear across global markets, already fragile after two years of economic slowdowns and inflation concerns.