Brent Surges Above $100 as US-Iran Fighting Threatens Oil Supplies

Oil became more expensive after fighting between the United States and Iran intensified.

Brent crude, an important global oil price, rose above $100 per barrel.

The fighting has affected ships near the Strait of Hormuz, a major route for transporting oil.

Reports say much less oil is now moving through the strait.

The United States said it destroyed five Iranian oil tankers, while Iran said it attacked 10 ships.

Some countries can use pipelines that avoid the strait, which may reduce the shortage.

However, global oil supplies are also being affected by falling inventories and offline production.

Experts say prices could stay high if the conflict continues.

They also expect oil demand to increase later in the year.