Commodities
Brent Crude Surpasses $100 as US-Iran Tensions Escalate
Oil prices have continued to rise, with Brent crude futures exceeding $100 per barrel. The increase comes as tensions between the US and Iran remain high.
The international benchmark, Brent, rose by 2.2% on Wednesday, while West Texas Intermediate (WTI) increased by 1.5% to $94.5 per barrel.
The price surge is attributed to ongoing military tensions in the region, including a recent statement from Iran's Islamic Revolutionary Guard Corps (IRGC), which claimed its naval forces targeted two US vessels and eight oil tankers in the Persian Gulf.