Brent crude rose to $100 per barrel following new clashes between the U.S. and Iran

Prices for Brent crude, the benchmark grade, exceeded $100 per barrel during trading on Wednesday, September 9. November futures rose by more than 2% and were trading above that level at the time. CNBC notes that the last time they reached this level was in July. Futures contracts for U.S. West Texas Intermediate (WTI) crude oil for November delivery jumped 1.75% to $94.7 per barrel.

The escalation of tensions between the U.S. and Iran has heightened concerns about further disruptions to energy supplies from the Middle East, according to CNBC. On Tuesday, the U.S. military destroyed five Iranian tankers carrying crude oil in response to attempts to attack a U.S. warship.

This news story is being updated.

This article was AI-translated and verified by a human editor