Oil tops 100 dollars on US Iran conflict
Oil prices surged past 100 dollars a barrel for the first time in six weeks amid escalating US and Iran clashes. The spike raises concerns over dwindling global reserves and renewed inflation risks for consumers.
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Brent Crude Oil rose past $100 a barrel on Wednesday morning for the first time in six weeks as intensifying clashes involving the United States and Iran squeezed global energy supplies. The milestone price jump reflects escalating fears of persistent inflation and higher transport costs for businesses worldwide. The rally follows a quarter-gain since early last month as diplomatic efforts stalled in the six-month-old conflict.
