World
Oil Prices Soar Past $100 as Mideast Tensions Escalate
March 8, 2026
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The first time in four years that oil has surpassed the $100 per barrel mark, driven by fresh airstrikes on Iranian facilities by the US and Israel over the weekend.
Amid growing geopolitical tensions in the Middle East, oil prices have jumped above $100 per barrel for the first time in nearly four years. This significant increase comes as the United States and Israel have launched a new wave of airstrikes targeting Iranian oil facilities over the weekend.
The current spike in oil prices represents a significant milestone, as the last time crude oil reached the $100 mark was back in 2014. This latest surge is largely attributed to the escalating conflict between Western powers and Iran, a major global oil producer.
{{IMAGE_PLACEHOLDER}}Source: BBC News
