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Commodities

Global Oil Prices Top $100 Per Barrel Amid Iran-US Tensions

Guavy AI Editorial Team
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Oil
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The global price of oil has surpassed $100 per barrel for the first time since July due to ongoing tensions between Iran and the United States.

A statement by US Central Command on Tuesday said that their forces had destroyed five Islamic Revolutionary Guard Corps oil tankers, prompting a warning from the IRGC to evacuate all oil tankers in Kuwaiti and Bahrani waters.

The Brent crude oil price climbed about 2.7%, trading at around $100.57 per barrel for contracts with November deliveries, while US oil traded at about $95 per barrel, up by approximately 2%.

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