Oil prices surge past $100 mark for first time in four months

International oil prices pushed decisively above the $100-per-barrel mark on Friday, marking the first time in nearly four months that crude has sustained levels at this height. Brent crude futures climbed $1.05, or 1 per cent, to settle at $108.68 per barrel, while US West Texas Intermediate crude advanced 95 cents, also 1 per cent, to $103.45 per barrel.

The gains underscore persistent supply constraints and geopolitical tensions that continue to underpin crude valuations. Energy markets have remained volatile as traders balance concerns over production disruptions against economic headwinds in major consuming regions, including India and other South Asian nations heavily dependent on petroleum imports.

The rally above $100 comes as refiners across the region brace for potentially higher feedstock costs. For India, Asia's third-largest economy and a significant crude importer, elevated oil prices add pressure to inflation and fuel costs, with direct implications for households and transportation sectors already grappling with inflationary pressures.

Analysts expect crude volatility to persist in the near term as markets digest fresh supply data and monitor developments affecting major producing regions. The price levels could influence central bank policy decisions and economic growth forecasts across South and Southeast Asia, where energy security remains a critical concern.