Washington, Sep 11: Global oil prices have remained above $100 a barrel as escalating tensions in the Middle East threaten major energy and shipping routes, raising concerns over inflation and the wider global economy.

Brent crude was trading above the $100 mark on Friday amid concerns over disruptions around key maritime routes in the region. Markets have been closely monitoring developments involving Iran and Iran aligned Houthi forces in Yemen, particularly the security of shipping routes in and around the Red Sea.

The rise in energy prices has also affected financial markets, with investors assessing the possible economic impact of prolonged disruptions to energy supplies. Higher oil prices could put additional pressure on consumer prices in several countries if the situation persists.

The developments come amid continuing tensions between the United States and Iran, adding to uncertainty across the Middle East. Governments and international markets are closely watching the security of strategically important waterways through which large volumes of oil and other goods are transported.

Analysts said a prolonged disruption could increase transportation and energy costs and create additional challenges for economies already dealing with inflationary pressures.

Policymakers are also monitoring the situation closely as they assess how higher energy prices could affect inflation, economic growth and future interest-rate decisions.