JOHANNESBURG - Oil prices are surging as conflict in the Middle East raises fresh concerns over global supply.
Brent crude jumped more than 6%, climbing to 100 dollars a barrel.
This is the highest level since May.
The gains follow attacks by Iran-backed Houthi militants on two Saudi oil tankers in the Red Sea.
READ | Brent crude soars as Mideast fighting continues
The Houthis said the strikes are part of a blockade targeting Saudi ports.
Supply concerns have also intensified after fresh attacks on vessels in the Strait of Hormuz and renewed US strikes on Iran.
With Washington and Tehran ruling out near-term peace talks, markets fear the conflict could keep oil prices elevated for longer.
That would mean fuel price increases for motorists in the coming months.