US-Iran Conflict Sends Oil Prices Soaring Past $100 Per Barrel

Oil prices soared to over $100 per barrel on Wednesday as tensions between the US and Iran escalated. The international standard, Brent crude, reached a new high of $101.21 per barrel, while US benchmark crude settled at $96.05 per barrel.

The sharp increase in oil prices comes after a series of attacks on oil facilities and ships in the Middle East, which have raised concerns about global supplies. The conflict has already had a significant impact on consumers and businesses worldwide, with many struggling to cope with rising costs.