Brent crude prices neared $100 per barrel on wednesday as attacks in west asia intensified:rent crude prices neared $100 per barrel on Wednesday as attacks in West Asia intensified, raising concerns over a further escalation in global oil prices. Brent crude futures rose $1.57, or 1.6%, to $99.49 a barrel, while West Texas Intermediate (WTI) crude climbed $1.60, or 1.72%, to $94.63 a barrel.

According to Qatar News Agency, Brent crude prices have surged by approximately 25% since early August due to the tense situation in the Middle East. The escalation in the region has spurred fears of disrupted oil supplies, contributing to the significant rise in crude oil prices.

Additionally, US Secretary of State Marco Rubio issued a warning to Iran, stating that the US will continue to target Iranian oil tankers in retaliation for attempted attacks on US warships. This statement highlights the ongoing geopolitical tensions and their potential impact on global oil markets.