Global oil prices climbed back to $100 a barrel on Wednesday as escalating conflict in the Middle East renewed concerns about disruptions to international energy supplies.

Brent crude, the global benchmark, rose 2.3% in early trading and briefly reached $100 a barrel for the first time since July before easing slightly. US crude gained about 1.3% to reach $94 a barrel.

The latest increase followed US strikes on Iranian oil tankers and attacks by Iran-backed Houthi rebels on Saudi Arabia, including oil and other infrastructure.

Oil markets are also closely watching the Strait of Hormuz, a crucial shipping route for global energy supplies, amid uncertainty over the movement of tankers through the region.

Brent and US crude prices have now risen more than 60% since the beginning of the year.

The surge is feeding through to gasoline, diesel and other energy costs worldwide, adding to inflation concerns and increasing pressure on consumers and central banks.

The renewed rise in international oil prices could also have implications for fuel-importing Caribbean countries, where changes in global petroleum costs can eventually affect import bills and prices at the pump.

This article was originally published by Antigua News Room. Read the original article here: Oil Prices Hit $100 a Barrel as Middle East Conflict Fuels Supply Fears.