Oil prices have surged past $100 per barrel following a series of attacks in the Red Sea and ongoing tensions related to the Iran war. The conflict, exacerbated by Houthi attacks and U.S. military actions against Iran, has pushed Brent crude oil prices to levels not seen since May. As concerns grow over supply disruptions, Asian markets are set to fall amidst fears of inflation and further instability in the oil market. Analysts warn that this dangerous new phase of war has removed previous constraints on oil prices, making a global oil crisis a looming possibility. The situation continues to unfold as geopolitical tensions rise and the impact on global oil supply remains significant.