Oil tops US$100 a barrel as Middle East war and Hormuz disruption rattle markets

Oil prices moved back above US$100 a barrel on Monday as the conflict involving the United States, Israel and Iran intensified and shipping disruption in the Strait of Hormuz hit one of the world’s most critical energy chokepoints. Brent crude rose to US$105.15 a barrel and U.S. West Texas Intermediate climbed to US$100.32 in early Asian trading, according to market data.