Commodities
Oil Prices Soar to $100 per Barrel Amid Escalating US-Iran Tensions
Oil prices surged on Wednesday as tensions between the United States and Iran escalated following fresh attacks on Iranian crude carriers and US forces in Jordan.
The latest escalation came after US forces destroyed five more Iranian crude oil tankers, while Iran targeted US forces in Jordan.
According to the U.S. Central Command (CENTCOM), four of the vessels, M/T Kaviz, M/T Charminar, M/T Horizon 1, and M/T Riesco, were destroyed in the Gulf of Oman.
As a result, oil prices reached $100 per barrel for Brent crude, while West Texas Intermediate (WTI) crude traded at $95.73 a barrel.