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

The price of oil has surged past $100 a barrel for the first time in almost six weeks after a series of attacks on oil facilities and ships in the Middle East.

The most heavily traded contract for a barrel of Brent crude, the international standard, settled at $97.89 before briefly climbing past $100 early Wednesday.

These attacks have threatened to further debilitate an already weakened supply chain, causing prices of gasoline, diesel, and jet fuel to rise.