Brent Oil Crosses $100 Mark Amid Middle East Conflict The Brent oil price has crossed the $100 threshold for the first time in roughly two months, driven by escalating tensions between the US and Iran.
This resurgence in conflict comes as disruptions to global energy supplies have pushed prices past triple digits. Historically, short term tensions in the Middle East have led to long term price increases.
The 1973 Arab Israeli War, for example, resulted in a prolonged period of high oil prices, while the 1990 91 Gulf War saw sustained price hikes.