Oil Prices Hit $100 as Iran-US Tensions Fuel Supply Fears

Oil prices surged past $100 per barrel on Wednesday (September 9), marking the first time since July that global crude benchmarks have reached triple digits.

The jump comes as escalating conflict between Iran and the United States, along with strikes on Middle Eastern energy infrastructure, heighten fears of a major supply disruption.

West Texas Intermediate (WTI) crude was quoted at $93.88 per barrel, while Brent crude traded at $98.54, briefly nearing $100 during intraday trading.

The upward move followed a statement by U.S. Central Command, which said American forces destroyed five Islamic Revolutionary Guard Corps oil tankers.