Oil prices surpass $100 per barrel as Iran conflict disrupts supply
- 22 hours ago
- 1 min read
RIYADH, March 9 (Saudi Arabia Breaking News) – Global oil prices climbed above $100 per barrel for the first time in more than three and a half years as the conflict involving Iran disrupted energy production and shipping routes in the Middle East.
Brent Crude, the international oil benchmark, was trading at $101.19 per barrel on Sunday, up 9.2% from Friday’s closing price of $92.69.
West Texas Intermediate crude rose to about $108.37 per barrel after trading resumed on the Chicago Mercantile Exchange, marking an increase of roughly 19.3% from its Friday close of $90.90.
Oil prices have surged as the conflict has affected key regions involved in the production and transport of oil and gas from the Persian Gulf.
