**Oil Nears Multi-Month Highs Amid Escalating Middle East Tensions**
Brent crude prices have surged as escalating geopolitical tensions in the Middle East, particularly the ongoing Israel-Hamas conflict and its regional spillover, threaten global energy supply routes. Attacks by Iran-backed Houthi rebels on shipping in the Red Sea have led to significant disruptions and major rerouting of maritime traffic in this crucial waterway, pushing oil closer to levels not seen in several months.
