The Globe and Mail reports in its Friday, July 24, edition that crude oil prices hit a three-month high on Thursday due to concerns over escalating U.S.-Iran tensions. The Globe's Sophia Bertuzzi writes that the involvement of Yemen's Iran-backed Houthis has raised fears of disruptions at key chokepoints like the Strait of Hormuz. Brent crude hit $100 (U.S.) a barrel for the first time since May on Thursday, while West Texas Intermediate hit $92 (U.S.). Dehal Investment Partners manager Michael Dehal says, "The fear is this escalation is going to spread wider than the Strait of Hormuz." Since the conflict began in early March, Saudi Arabia has increased its use of alternative shipping routes, including its 1,200-kilometre East-West pipeline to the Red Sea, which has become a conflict point. On Tuesday, over 93 crude oil tankers were operating in the Red Sea, compared with just 50 before the war. From the port of Yanbu in the Red Sea, Saudi Arabian oil has been travelling south through the Bab al-Mandab Strait. The sea lane is one of the few oil chokepoints in the region, connecting Asia, Africa and the Middle East to Europe by offering a path to the Suez Canal through the Red Sea.