Oil Prices Soar Past $100 as US-Iran Conflict Escalates

Oil prices surged past $100 per barrel on Wednesday as fighting between the US and Iran escalated, causing gasoline prices to jump.

According to the AP, the recent attacks led to a significant increase in oil prices, with some markets reaching over $103 per barrel. The rise in gas prices is also expected to impact consumers worldwide.

The satellite image provided by Planet Labs PBC shows a Saudi Aramco oil refinery north of Abha, Saudi Arabia, shortly before a plume of smoke began rising from the facility on Tuesday, September 8, 2026. The refinery was likely affected by the recent attacks, contributing to the rise in oil prices.