$100 Oil: Middle East Attacks Spark Global Market Volatility

The price of oil has surged past $100 a barrel for the first time in nearly six weeks due to recent attacks on oil facilities and ships in the Middle East, which have threatened to disrupt an already weakened supply chain.

Brent crude, the international standard, jumped almost 3% to $100.72 early Wednesday morning.

The Middle East has long been a key player in global oil production, with many major oil-producing countries located in the region. The recent attacks on oil facilities and ships have raised concerns about the potential for further disruptions to the supply chain.