Commodities
Middle East Conflict Drives Oil Prices Past $100
Oil prices have surged more than $1 in early trading as tensions escalate in the Middle East. Brent crude futures rose by $1.57, or 1.6 percent, to reach $99.49 a barrel, while US West Texas Intermediate crude gained $1.60, or 1.72 percent, to $94.63 a barrel.
The increase marks a significant jump in oil prices since early August, with Brent climbing by about 25 percent over the past month as hopes for a lasting resolution to the six-month-old war have faded and hostilities have reignited.