Oil Prices Surge Past $100 Per Barrel Amid US-Iran Conflict

Oil prices surged past $100 per barrel for the first time in over six weeks on Wednesday, following a series of military strikes against Iranian tankers and Houthi attacks on Saudi oil facilities.

The U.S. Central Command said it had destroyed five Iranian vessels, including four crude oil carriers, in response to attempted missile attacks on a Navy warship.

Secretary of State Marco Rubio described the Houthis as 'agents and proxies of the Iranians,' and stated that 'behind some of this is clearly the Iranian hand.'

The price of Brent crude, the international benchmark, rose 2.4% to $100.29 per barrel, while U.S. benchmark crude gained 1.9% to $94.77 per barrel.