India, Sept. 11 -- India and the world are facing a fresh economic challenge as international crude oil prices remain above $100 a barrel, with the widening US-Iran conflict and attacks around major shipping routes raising fears of a prolonged supply disruption. Brent crude climbed to a four-month high of $108.77 on Friday before easing slightly, keeping pressure on major oil-importing economies such as India.

The latest oil rally comes at a time when the conflict is no longer limited to the Gulf. Shipping risks have increased around both the Strait of Hormuz and the Red Sea after Iran intensified attacks on vessels and Iran-aligned Houthi forces seized Yemen's strategic port of Mocha. The developments have added another layer of uncerta...