Brent Crude Hits Six-Week High as US-Iran Tensions Spike Oil Prices

Oil prices surged on Wednesday as tensions between the US and Iran threatened crude shipments through the Red Sea.

Brent crude, the global oil benchmark, rose 2.13 percent to $100 a barrel, hitting a six-week high.

The increase in Brent crude was also reflected in US West Texas Intermediate (WTI), which gained 1.76 percent to $94.67 a barrel.

The US central command said its forces destroyed five Iranian crude oil carriers on September 8 after attempted missile attacks on a US navy warship over the past two days.