Brent oil's price briefly tops USD 100 per barrel, as stocks are set to drop on Wall Street
Brent crude oil prices briefly surpassed $100 per barrel following increased geopolitical tensions in West Asia. The surge was triggered by attacks on Saudi oil tankers in the Red Sea, raising concerns about global supply chain disruptions.
Why it matters
Rising oil prices can lead to increased inflation and higher energy costs for consumers and businesses globally.
Brent crude oil briefly topped $100 per barrel for the first time since May as increased fighting in West Asia threatens to slow the global flow of crude.
The price for a barrel climbed 6.2% to $99.94 and briefly topped the century mark, the first time the most actively traded contract has done so in two months. The latest increase came after attacks on two Saudi oil tankers in the Red Sea.
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