Oil surges 5%, Brent and US crude both over $100 on more tanker attacks

Oil surges 5%, Brent and US crude both over $100 on more tanker attacks. Oil prices jumped 5% to above $100 a barrel as escalating US-Iran fighting and attacks on tankers raised fears of wider supply disruptions. Brent hit $106.60 while WTI crossed $100. Rising Chinese demand and tighter OPEC output are adding to market pressure, keeping traders focused on the risk of further supply shocks.