Global oil prices surpassed $100 a barrel on Wednesday, reaching their highest point since July 24, as ongoing strikes between Iran and the United States continued. The U.S. Central Command reported that its forces destroyed five oil tankers belonging to the Islamic Revolutionary Guard Corps on Tuesday.
Brent crude oil, a key benchmark for international trading, saw its price climb by approximately 2.7% on Wednesday, with contracts for November delivery trading at around $100.57 a barrel. U.S. oil futures also experienced an increase, trading up by about 2% at approximately $95 a barrel.
This is a developing story and will be updated as more information becomes available.