Oil Prices Soar Past $100 Per Barrel Amid Middle East Attacks

The price of oil has surpassed $100 per barrel for the first time since July, as a series of attacks on oil facilities and ships in the Middle East have disrupted the global supply chain.

Brent crude, the international standard, jumped nearly 3% to $100.72 early Wednesday, while U.S. benchmark crude gained 2.4% to $95.25 per barrel.

The average price for a gallon of regular gasoline has risen sharply overnight, reaching $4.22 - more than a dollar above what it cost at this point last year, according to AAA.