Benchmark Brent crude oil futures rose past $100 a barrel on Wednesday, hitting a more than six-week high and breaching the symbolic threshold for the first time since July 24 as intensifying conflict in the Middle East heightened concerns about oil flows from the region.
Brent crude futures were up $2.01, or 2.05%, at $99.93 a barrel by 0802 GMT, after earlier touching $100.19, while U.S. West Texas Intermediate crude was up $1.49, or 1.60%, at $94.52 a barrel.
Brent crude 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.
Since the Iran war began on February 28, Brent has surged as high as $126.41 a barrel, a peak reached on April 30.
This week, attacks by Iran-backed Houthis on Saudi energy facilities set oil installations ablaze, threatening a significant expansion of the conflict.
The attacks also threaten crude shipments via the Red Sea, which has been a key alternative route to the crucial Strait of Hormuz, where oil flows have been severely curtailed since the start of the Iran war.
