Crude rises above $100 a barrel as war escalates

US West Texas Intermediate (WTI) crude also rose, gaining $1.49, or 1.60%, to $94.52 a barrel. Reuters reported the rise, linking it to growing fears that the worsening Middle East conflict could disrupt oil supplies.

Middle East conflict is pushing oil prices higherThe main reason behind the latest jump is the intensifying conflict in the Middle East. Investors are increasingly worried that fighting could affect the movement of crude oil from the region. Brent prices have now risen by around 25% since early August.

Hopes for a permanent solution to the six-month-old US-Iran conflict have also weakened. Since the Iran war began on February 28, Brent has climbed as high as $126.41 a barrel. That peak was reached on April 30, showing how strongly the conflict has affected crude prices.