Commodities
Brent Oil Hits $100 a Barrel Amid Escalating Middle East Tensions
Brent oil prices have reached $100 a barrel for the first time since July. This surge is due to a combination of factors, including ongoing attacks between the US and Iran, and a recovery in Chinese oil buying.
US forces destroyed five Iranian tankers carrying crude oil on Tuesday in response to two attempts to hit a US Navy warship with ballistic missiles over as many days.
Brent oil has been rising steadily since mid-2026, and the current price of $100 a barrel marks a significant milestone. The market is closely watching developments in the Middle East, where tensions between the US and Iran continue to escalate.