International Oil Prices Surge Past $100 per Barrel Amid Escalating Middle East Conflict

International oil prices have surged past $100 per barrel amid escalating conflict in the Middle East. In the United States, average diesel prices reached a record high of $5.94 per gallon. Brent crude closed at $101.21 per barrel on September 9 (local time), while U.S. West Texas Intermediate (WTI) crude settled at $96.05 per barrel, according to the Associated Press.

U.S. average gasoline prices were reported at $4.22 per gallon. The AP noted that rising oil prices could increase costs for consumers and businesses, heightening inflation concerns.