Oil pushes towards $100 a barrel mark

Oil prices are again pushing towards the psychologically important $100-a-barrel mark as the war between the United States and Iran enters another dangerous phase.

Brent crude has climbed to its highest level in nearly seven weeks after renewed attacks on shipping, Iranian threats of what it calls "economic warfare", and strikes by Iran-backed Houthis on Saudi Arabia — including energy infrastructure.

Goldman Sachs is now warning Brent could rise above $120 a barrel if disruption to Gulf supplies becomes significantly worse next year — a dramatic shift in expectations for a conflict increasingly being fought not only with missiles, but through the global energy market.

SABC News Correspondent Sherwin Bryce-Pease updates us from New York.

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