US oil prices extend gains above $100 a barrel as Middle East tensions escalate

WTI crude has risen above $100 a barrel, extending gains as geopolitical risks in the Middle East persist. Prices are up 17% from the October 6 low. Brent crude was earlier above $110. The escalation includes continued attacks on shipping in the Strait of Hormuz and Houthi strikes on Saudi Arabia, with a US-Iran deal before midterms seen as increasingly difficult.