Singapore: Benchmark Brent crude oil futures rose past $100 a barrel on Wednesday, breaching the symbolic barrier for the first time since July 24 as intensifying conflict in West Asia fuelled concerns over oil flows from the region.
Brent crude futures rose $2.15, or 2.2%, to $100.07 a barrel by 0721 GMT, while U.S. West Texas Intermediate (WTI) crude was up $1.70, or 1.83%, at $94.73 a barrel.
Prices have risen by a quarter since early last month as hopes fade for a permanent resolution to the six-month-old U.S.-Iran conflict, adding to supply disruption fears in the world’s most oil-sensitive region.
