Brent crude surges 4% to over $95 a barrel, nears 6-week high as conflict threatens key oil transit routes

Oil prices rose to a near six-week high on Wednesday, with Brent crude surpassing $95 ​a barrel, on mounting concerns about ​disruptions to Middle Eastern supply routes because of escalating hostilities between the ​U.S. and Iran and threats to shipping by the Iran-backed Houthi militia in Yemen.

Brent crude futures were up $4.04 or 4.44% at $95.05 a barrel after hitting a session high of $95.24.