New Delhi, April 23 -- Global energy prices have spiked in recent weeks as the conflict in West Asia disrupts key supply routes and raises concerns over availability. Brent crude has crossed the $100-per-barrel mark after jumping nearly 13% over the past three sessions, extending its rally.

The surge comes amid fears of prolonged disruptions around the Strait of Hormuz, a critical route for global energy shipments. Tensions around the waterway have intensified after Iran briefly opened the Strait of Hormuz on Friday, only to reverse course within hours. Following the announcement, the United States imposed a blockade on vessels entering or leaving Iranian ports.

Shipping activity through the Strait has already dropped sharply since the ...