Oil Surges Above $100 as Iran Crisis Triggers Global Aviation Disruptions

Oil prices rose during trading on Wednesday, surpassing the $100 mark, according to data from the London ICE exchange. Brent Crude Exceeds $100 June futures contracts for the benchmark North Sea Brent crude increased to $101.5 per barrel, which is $3.02 higher than the previous day's level. Over the course of the day, oil gained 3.07 percent. At the same time, Texas WTI crude for June delivery also rose in price during trading on the New York Mercantile Exchange. Contracts increased by $2.7, or 3.01 percent compared to Tuesday's close, reaching $92.37 per barrel.