BANGKOK: The price of a barrel of Brent crude oil, the international standard, topped $100 a barrel early on Thursday, just days after it spiked near $120 in the latest jolts to financial markets and the global economy as a whole.
Oil prices shot more than 9% higher as supply concerns worsened with Iranian attacks on commercial shipping around the Strait of Hormuz.
US benchmark crude oil jumped to about $94 a barrel.
Iran has escalated its attacks aimed at generating enough global economic pain to pressure the United States and Israel to end the war that started 12 days ago. But there were no signs that the conflict was subsiding.
Iran has targeted oil fields and refineries in Gulf Arab nations and effectively stopped cargo traffic through the narrow Strait of Hormuz, through which a fifth of all traded oil passes.