Brent crude moved above $100 a barrel early Thursday after a new market update showed fresh pressure on global oil supplies. The jump followed a wave of attacks on commercial shipping near the Strait of Hormuz, a key route for energy exports, adding to fears that the conflict could disrupt deliveries for longer than expected.
Traders also pushed U.S. crude near $94 a barrel as the situation worsened. Officials said emergency reserves would be released to help steady energy markets, including a major draw from international stockpiles and a separate release from the U.S. Strategic Petroleum Reserve.
The broader reaction spread quickly through financial markets. Major indexes across Asia fell, while the dollar strengthened and investors watched for signs of more volatility ahead. Oil prices had already been swinging sharply in recent days, but the latest move renewed concern about inflation, especially as fuel costs feed into transportation and everyday expenses.
For now, the focus remains on whether shipping traffic can recover and whether supply routes in the region stay open.
