Oil Prices Soar Past $100 a Barrel Amid Middle East Tensions

The price of oil surged past $100 a barrel on Wednesday for the first time in over six weeks, following fresh attacks in the Middle East.

U.S. Central Command said it destroyed five Iranian tankers as part of a multibillion-dollar shadow network that funds the Islamic Revolutionary Guard Corps and its regional proxies.

The most actively traded Brent crude contract rose 2.4% to $100.29, while U.S. benchmark crude gained 1.9% to $94.77 a barrel.

Secretary of State Marco Rubio said Tuesday that the Houthis are 'in many ways, agents and proxies of the Iranians,' and that 'behind some of this is clearly the Iranian hand.'