U.S. crude oil hits $100 for the first time since May

Brent crude oil prices have surged, surpassing $105 per barrel for the first time since May. This increase represents a climb of over 11% within 20 days, rising significantly from the August average of $85. The market is currently bracing for a potential long war between the US and Iran, which has driven prices up by more than $10 per barrel. Global markets are now preparing for a significant oil shock as geopolitical tensions continue to escalate.