Oil prices have reached $100 a barrel for the first time since May, as the escalating conflict in the Middle East has again raised concerns about global energy supplies, the BBC reported.
The price of "Brent" crude oil rose by more than 6% amid intensified US strikes on Iran.
Prices jumped after Yemeni Houthis attacked oil tankers in the Red Sea, threatening a key export route used by Saudi Arabia to bypass the Strait of Hormuz.
Oil prices had previously fallen due to a temporary ceasefire between the US and Iran. They had fallen to levels last seen before the US and Israel launched military action against Iran on February 28.
The truce, however, has failed, with US Secretary of State Marco Rubio saying that Iran's rulers are "not ready for a deal".
The ongoing conflict risks driving up inflation in many countries, including the UK and the US, leading to higher prices for consumers. Higher oil prices usually lead to higher petrol and diesel prices.
Natural gas prices have also risen in the past month.