Oil Prices Surge Above $100-$105 Per Barrel Amid Escalating US-Iran Conflict

International oil prices have surged, with Brent crude trading above $100 and reaching $105 per barrel for the first time since May/July, while U.S. crude also surpassed $100. This significant increase is driven by escalating tensions and military activity between the US and Iran, particularly concerns over disruptions to oil flow through the Strait of Hormuz, exacerbating global inflationary pressures.