Crude oil prices surpass $100 a barrel as the Iran war impedes production and shipping


Source: abc7.com abc7.com
Key Topics in this News Article:
News Snapshot:

CHICAGO — Oil prices eclipsed $100 per barrel for the first time in more than three and a half years Sunday as the Iran war hinders production and shipping in the Middle East. The price for a barrel of Brent crude, the international standard, was at $107.97 after trading resumed on the Chicago Mercantile Exchange, up 16.5% from its Friday closing price of $92.69. West Texas Intermediate, the light, sweet crude oil produced in the United States, was selling for about $106.22 a barrel. That’s 16.9% higher than it closed Friday at $90.90. Both could rise or fall as market…