Brent oil reaches milestone, surpassing $100 per barrel for the first time in over a year
Brent crude prices experienced a significant surge on Thursday, reaching a level above $100 per barrel for the first time in nearly a year, specifically since August 2022, amid heightened tensions with Iran threatening retaliation against the United States.
nThe price increase was substantial, with Brent crude rising by 9.2 percent to settle at $100.46 per barrel, while its American counterpart also saw a notable gain.
nThe West Texas Intermediate, the US equivalent of Brent crude, saw its price climb by 9.7 percent to $95.73 a barrel, further underscoring the volatility in the oil market.
nIran's vow to make the United States regret its actions against the Islamic republic contributed to the uncertainty and escalation in oil prices on Thursday.
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