Brent crude prices surged past $100 a barrel for the first time since July, driven by intensifying U.S.-Iran tensions and escalating Houthi attacks in the Gulf region. The recent wave of Iranian missile fire into Jordan and ongoing Red Sea disruptions have heightened supply fears across global energy markets.

The price jump reflects growing concerns over potential chokepoints in oil transportation, particularly around the Strait of Hormuz and key shipping lanes near Yemen. Traders are bracing for further volatility as geopolitical risks compound existing production constraints and logistical bottlenecks.

Analysts warn that sustained elevated prices could pressure inflation and prompt central banks to reconsider monetary policy paths. The market remains highly sensitive to breaking developments in the Middle East, with any disruption to major export facilities likely to trigger additional sharp price swings.

Energy companies are reviewing contingency plans, including rerouting tanker traffic and securing alternative supply chains. Investors are closely watching Joe Biden's administration response and potential sanctions measures targeting Iranian oil exports. The confluence of military escalation and supply chain vulnerabilities has created one of the most turbulent periods for oil markets in recent years.