Oil Prices Soar Past $100 Amid Iran-US Conflict and Middle East Tensions

Oil prices surged past $100 per barrel on September 9 amid escalating conflict between Iran and the United States, along with strikes on Middle Eastern energy infrastructure.

The jump marked the first time since July that global crude benchmarks reached triple digits. West Texas Intermediate (WTI) crude traded at $93.88 per barrel while Brent crude briefly touched $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.

Market analysts warn that continued escalation could push oil prices even higher due to the supply crunch evident in falling inventories and restricted Iranian crude exports.