Brent Oil Exceeds $100 Amid Middle East Tensions
Brent crude oil prices rose to over $100 per barrel for the first time since July, due to escalating conflict in the Middle East and growing concerns over oil flows from the region. Brent futures increased by 2.2% to reach $100.07 per barrel, while West Texas Intermediate (WTI) crude rose to $94.73. Brent prices have quadrupled since the beginning of the month, as hopes for a permanent resolution to the six-month-long conflict between the United States and Iran have deteriorated.
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