Oil prices crossed the $100 per barrel threshold Thursday afternoon, according to market reports, marking the first time in two months the benchmark has reached that level. The milestone extends a rally driven by Middle East tensions.
Oil prices crossed the $100 per barrel threshold for the first time in two months on Thursday afternoon, according to market reports. The milestone follows an earlier rally that saw prices approach $100 by midday, as The Zioneer reported earlier today. The sustained increase reflects ongoing geopolitical tensions in the Middle East, which have kept markets on edge. The $100 level is a psychological and economic benchmark, and its breach may have implications for global inflation and energy markets.
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