Price of Brent crude again at triple digits | Arkansas Democrat Gazette

Brent crude climbed back above $100 a barrel on Wednesday as tensions between the U.S. and Iran escalated, raising the risk of higher costs for consumers and businesses worldwide. The international benchmark rose into triple digits for the first time since July, settling at $101.21 by the end of trading, after attacks on oil facilities and ships in the Middle East. U.S. benchmark crude followed closely, ending at $96.05. Analysts cited the psychological milestone but warned that a prolonged period of steep prices could worsen the fallout from a conflict already over six months old. U.S. President Donald Trump said prices likely would not fall until after November’s midterm elections.