Brent crude surges 4% to over $95 a barrel, nears 6-week high as conflict threatens key oil transit routes

Brent crude surged 4.44 percent to $95.05 per barrel and WTI climbed 4.33 percent to $87.99, both hitting six-week highs amid escalating US-Iran conflict and Houthi threats to Saudi oil shipments through the Bab el-Mandeb and Strait of Hormuz. Three Saudi crude tankers bound for China and India reversed course in the Red Sea, forcing rerouting via the Suez Canal and around Africa. The dual-strait disruption threatens physical oil supply and raises cost pressures for Asian refiners including India, a major crude importer.