Oil tops $100 per barrel as U. S. fighter jets are damaged in Iranian strikes on Jordan The recent spike in oil prices to over $100 per barrel for Brent crude has left many wondering what's behind this sudden jump.
While market fluctuations can be unpredictable, the current surge is more than just a correction – it's a symptom of a broader conflict.
The Strait of Hormuz, a critical chokepoint for global oil supplies, has been at the center of international attention since May, when oil prices briefly breached $100 per barrel.