Oil Prices Soar Past $100 a Barrel Amid Ongoing Middle East Attacks

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

The attacks, which include U.S. strikes on Iranian tankers and Houthi rebel group assaults on Saudi oil facilities, have threatened to debilitate an already weakened supply chain.

U.S. benchmark crude gained 1.9% to $94.77 a barrel, while Brent crude, the international standard, settled at $97.89 before jumping 2.4% to $100.29 early Wednesday.