Oil price passes $100 a barrel as fighting spreads to Red Sea

Brent settled at $91.01 and WTI at $84.91 on Tuesday after a tenth day of U.S. airstrikes and Houthi threats against Saudi shipping.

Brent reached an intraday high of $98.80 a barrel, while US benchmark West Texas Intermediate climbed as much as 3.8 per cent to $90.11.

U.S. crude oil also jumped for a second straight day, rising more than 4% to almost $91 per barrel and its highest since June 11.

Oil Prices Surge Toward $100, Highest in Nearly Two Months