Brent crude rises above $100 a barrel as Middle East conflict intensifies
AI Summary
Brent crude oil futures surpassed $100 a barrel amid escalating conflict in the Middle East, reaching a six-week high and intensifying concerns about disruptions to oil supply. U.S. West Texas Intermediate crude also rose significantly in response to the geopolitical tensions.
By Tony Munroe and Anushree Mukherjee SINGAPORE, Sept 9 (Reuters) - Benchmark Brent crude oil futures rose past $100 a barrel on Wednesday, hitting a more than six-week high and breaching the symbolic threshold for the first time since July 24 as intensifying conflict in the Middle East heightened concerns about oil flows from the region. Brent crude futures were up $2.01, or 2.05%, at $99.93 a barrel by 0802 GMT, after earlier touching $100.19, whileU.S. West Texas Intermediate crude was up $1.49, or 1.60%, at $94.52 a barrel.