Oil Prices Continue to Surge, Brent Crude Futures Exceed $100 per Barrel
Oil prices have continued their upward trend, with Brent crude futures surpassing $100 per barrel, marking a significant increase since late May. On Wednesday, Brent crude futures for the nearest delivery month climbed $3.29 (3.4%) to settle at $101.21 per barrel, reaching a high of $101.58. Similarly, US West Texas Intermediate (WTI) crude gained $3.02 (3.25%) to reach $96.05 per barrel.
Both benchmarks recorded their highest settlement levels since May 22nd.
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