Oil surpasses $100 amid Middle East supply concerns
Oil prices rose sharply, surpassing the $100 per barrel threshold for the first time since late July, amid escalating military clashes in the Middle East and growing concerns about disruptions to global energy supplies. Brent crude increased by 2.05%, reaching approximately $99.93, while West Texas Intermediate rose to $94.52, with overall crude prices up about 25% since the end of summer. Concerns persist regarding the impact of military escalation, especially in the Gulf of Oman and the Red Sea, where forecasts indicate a potential reduction of up to 4% in global oil supplies for this year.
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