Oil prices have climbed above $100 a barrel as the war involving the United States and Iran threatens to disrupt global energy supplies.

The surge has been driven by concerns over shipping and oil production in the Middle East, particularly around the Strait of Hormuz.

The conflict has raised fears that prolonged disruptions could push fuel prices higher for consumers and businesses around the world.

Analysts warn that sustained high oil prices could increase inflation and put additional pressure on the global economy, ABC News has reported.

The situation remains uncertain as markets closely watch the conflict and any developments that could affect Middle Eastern oil exports.