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Oil hits over $100 for first time since July
Global oil prices have risen, with Brent crude surpassing the $100 per barrel mark for the first time since July. This increase is driven by escalating clashes between the United States and Iran, as well as attacks on Iranian oil tankers in the Strait of Hormuz, which heighten the risks of rising inflation and threaten global energy supply chains. These developments follow attacks on oil facilities and shipping vessels, and the escalation has led to disruptions in navigation through the strait. Prices are expected to continue rising amid ongoing political and military tensions. Experts have stated that breaching the $100 threshold for Brent signifies a psychological turning point that could impact global markets.
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