Brent Oil Surges Above $100 as Middle East Conflict Fuels Supply Fears

Brent crude futures surged above $100 per barrel on Thursday, extending a five-day rally as escalating tensions in the Middle East deepened concerns over global energy supplies and disrupted key maritime shipping routes. Brent Reaches Its Highest Level Since May The price of the September Brent crude futures contract rose 6.55 percent to $100.23 per barrel during Thursday's trading session, marking the first time the benchmark has traded above the $100 level since May 22, 2026. Oil prices have now posted gains for five consecutive trading sessions as investors continue to assess the impact of the ongoing conflict involving the United States, Israel, and Iran on global crude supplies.