Brent crude futures surged on Monday, hitting a six-week high and reigniting concerns about inflation in Brazil as state-controlled oil giant Petrobras resists fully passing the soaring international cost on to domestic consumers. The global benchmark closed at an estimated $97.31 per barrel after touching an intraday high of $98.06, with renewed military escalation between the United States and Iran driving the price action. The abrupt spike brings the commodity perilously close to the $100 mark, with some analysts warning of a potential jump to $120 if the Middle East conflict continues to threaten supply routes like the Strait of Hormuz.