US-Iran Tensions Send Oil Prices Soaring Past $100 a Barrel

Oil prices surged past $100 a barrel on Wednesday as tensions between the US and Iran escalated, threatening to increase costs for consumers and businesses worldwide.

The Brent crude benchmark, an international standard, climbed into triple digits after attacks on oil facilities and ships in the Middle East. The last time prices were this high was in July.

According to AP Business Writers Wyatt Grant Hampton-Phillips and Cathy Bussewitz, the fighting between the US and Iran has debilitated an already weakened supply chain.