▲ A gas station in Brooklyn, New York
As armed conflict between the United States and Iran intensifies, West Texas Intermediate (WTI) has followed Brent crude in topping $100 per barrel on September 10 (local time).
As of 8:32 a.m. that day, October delivery WTI futures on the New York Mercantile Exchange were trading at $100.13 per barrel, up 4.3% from the previous session.
At the same time, November delivery futures for Brent crude, the global benchmark, were trading at $105.38 per barrel on London's ICE Futures Exchange, up 4.1% from the previous session.
International oil prices continue to surge as tensions escalate in the Middle East.
The conflict between the US and Iran, which had been relatively quiet last month, flared up again entering this month.
Concerns over disruptions to crude oil supplies have grown as US airstrikes and Iranian retaliatory attacks continue, alongside successive damage such as the sinking of oil tankers in the Strait of Hormuz.
In particular, concerns over a prolonged war are mounting following a report by the Wall Street Journal (WSJ) stating that close aides to President Donald Trump remarked in private that the war with Iran could continue until the end of his presidential term.
(Photo: Getty Images)
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