Oil prices climb toward $100 as Middle East tensions escalate.

Oil prices climb toward $100 as Middle East tensions escalate. Brent crude rose 0.87% to $96.75 a barrel while WTI gained 1.06% to $98.91 on Friday, driven by fresh attacks on Saudi energy infrastructure and ongoing Strait of Hormuz disruptions. Ship traffic through the critical waterway operates at less than 10% of normal capacity despite a fragile ceasefire. JPMorgan reports approximately 2.4 million barrels per day of refining capacity remain offline after drone and missile strikes across the Gulf. President Trump's warnings about potential military escalation and Iran's nuclear ambitions have intensified investor concerns. Macquarie forecasts oil could reach $150 per barrel if disruptions persist through April, while analysts expect prices to remain volatile with support between $85 to $100 in the near term.