Oil climbed back above $100 a barrel as traders assessed the risk of prolonged disruption in one of the world’s most important shipping lanes. The strait usually carries roughly a fifth of global oil consumption, and Asian economies are seen as especially exposed because they take the most Gulf exports. Europe depends less directly on the route, but has also been hit with higher fuel prices. Weeks of tension around Hormuz have strained supply chains and pushed governments to bring in emergency responses.