Wararka: Oil prices climb over $100 per barrel as US war in Iran co…

Oil prices climb over $100 per barrel as US war in Iran continues

News

Brent crude oil prices, a benchmark for global trading, climbed on Wednesday.

LONDON — The global price of oil topped $100 a barrel on Wednesday for the first time since July, as continued tensions between Iran and the United States added to uncertainty over future supply.

The rise followed a statement on Tuesday by U.S. Central Command, which said that its forces destroyed five Islamic Revolutionary Guard Corps oil tankers.

Details

The IRGC followed those strikes by issuing a warning that all oil tankers in Kuwaiti and Bahrani waters should be evacuated.

Brent crude oil prices, a benchmark for global trading, climbed on Wednesday by about 2.7%, trading at about $100.57 a barrel for contracts with November deliveries.

U.S. oil traded at about $95 a barrel, up by about 2%.

Analysis

This is a developing story. Please check back for updates.

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