Oil surges to $100 a barrel as Strait of Hormuz tensions continue

• Brent Crude oil prices have surpassed $100 a barrel for the first time since July following escalating conflict in the Middle East.
• The price surge follows attacks by Iranian-backed Houthi forces on Saudi energy infrastructure, including the Jazan refinery.
• The US military stated it destroyed five Iranian crude tankers after an attempted ballistic missile strike on a US Navy warship.
• Donald Trump claimed on Truth Social that oil prices would drop precipitously once the conflict with Iran is won.
• European stock markets slipped as rising energy costs fuelled inflation concerns ahead of key central bank rate decisions.

IN FULL

Oil hits $100 for first time since July as chaos continues in Strait of Hormuz