Oil prices rise above $100 a barrel for first time since July as Iran war escalates
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The price of oil has risen above $100 a barrel for the first time since July as the escalating conflict in the Middle East threatens further disruption to global supplies.
Brent crude, the international benchmark for oil prices, rose 2.1% past the milestone after tensions stepped up in the Gulf amid the latest tit-for-tat exchange of fire between the US and Iran.
The US military said it had “destroyed” multiple Iranian tankers, after Tehran attempted to strike a US navy warship with ballistic missiles.
Confirmed
The price of oil has risen above $100 a barrel for the first time since July as the escalating conflict in the Middle East threatens further disruption to global supplies.
Unverified
Brent crude, the international benchmark for oil prices, rose 2.1% past the milestone after tensions stepped up in the Gulf amid the latest tit-for-tat exchange of fire between the US and Iran.
The US military said it had “destroyed” multiple Iranian tankers, after Tehran attempted to strike a US navy warship with ballistic missiles.