Commodities
Brent Crude Oil Surges Past $100 Amid Escalating Iran Tensions
Brent crude oil prices have reached $100.96 for the first time since July due to escalating tensions in the Iran war.
The global benchmark for crude oil has seen a significant increase since the US war with Iran began on February 28, with prices rising from $72.99 to $119.40 after just one week.
This surge is largely attributed to recent developments in the Strait of Hormuz, where a fifth of the world's oil passes through, and Iran's decision to shut down the strait.