Brent Crude Tops $100 as Iran-US Tensions Escalate

Brent crude prices rose above $100 per barrel on concerns over ongoing tensions between Iran and the United States. The price of Brent crude futures climbed 2.5% compared to the previous close, reaching $100.49 per barrel as of 13:00 local time.

This increase in oil prices is attributed to growing uncertainty following reports that US Secretary of State Marco Rubio called on the Iranian delegation to leave the country immediately after talks between Washington and Tehran stalled.

The price of West Texas Intermediate (WTI) crude futures, however, remained at $92.57 per barrel.