Oil hits $100 amid Iran conflict

Oil prices have surpassed $100 a barrel for the first time since May, driven by attacks by Yemen's Houthi militants on Saudi tankers in the Red Sea and ongoing tensions between the U.S. and Iran. The surge has led to declines in major stock indexes and increased gas prices, amid disruptions in shipping traffic through the Strait of Hormuz and renewed U.S. naval blockades. The conflict has significantly impacted global oil supply and market stability.

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