US Crude Oil Hits $100 as Iran Tensions Escalate

U.S. crude oil prices have surged to $100 per barrel for the first time since May, fueled by tensions between the U.S. and Iran.

The price increase was triggered by President Donald Trump's comment that he is not looking for a deal with Iran, leading commodities experts to warn of further price hikes.

Saudi Arabia's crude oil output has also plunged to its lowest level since 1990 due to renewed hostilities with Iran, exacerbating the supply shortage and driving up prices.

The national average gas price rose another 5 cents overnight to $4.27, while diesel fuel increased by 3 cents to $5.97.