Global Oil Prices Surge Above $100 per Barrel Amid Rising Middle East Tensions

Global crude oil prices have surged to their highest levels as tensions continue to escalate in the Middle East.

According to reports, the ongoing conflict in the region and the failure of the United States to reopen the Strait of Hormuz have pushed international oil prices sharply higher. As a result, crude oil prices in the global market have crossed **$100 per barrel**.

The price of Brent crude oil increased by **23 percent**, reaching **$114.36 per barrel**, while West Texas Intermediate crude oil rose **27 percent** to **$115.11 per barrel**.

Energy experts warn that if the conflict in the Middle East continues for a longer period, oil prices could rise further and reach **$120 per barrel**. ⛽📈