Brent Crude Oil Surges Past $100 Amid U.S.-Iran Tensions

Brent crude oil prices have reached a new high of $100.96 on Wednesday morning as tensions escalate between the U.S. and Iran.

The global benchmark for crude oil surpassed this milestone after a week of rising prices, which have been fueled by the ongoing conflict in the Middle East.

Since the U.S. war with Iran began on February 28, global oil prices have seen a significant increase, from $72.99 to $119.40.

The recent developments in the Strait of Hormuz, where a fifth of the world's oil passes through, are contributing to the surge in oil prices.