AssetID: 55875143
Headline: UNCAPTIONED: Oil Hits $100 As Middle East Conflict Escalates
Caption: Oil Hits $100 As Middle East Conflict Escalates. Oil prices have climbed above 100 dollars a barrel for the first time since May as renewed fighting in the Middle East raised concerns about global energy supplies. Brent crude rose sharply after the United States stepped up military strikes against Iran while attacks by Houthi forces on oil tankers in the Red Sea added to fears over key shipping routes. Gas prices have also increased significantly in recent weeks, adding to concerns over higher energy costs. Oil prices had fallen after a temporary ceasefire between the US and Iran, but those gains have now been reversed as the conflict intensified. The latest surge is expected to increase inflationary pressures in countries including the UK and the US, raising the prospect of higher costs for households and businesses. Instructions: THIS VIDEO MUST NOT BE EDITED FOR LENGTH TO COMBINE WITH OTHER CONTENT
Keywords: Current Affairs & Politics,oil prices,$100,barrel,Brent crude oil,tankers,fighting,Middle East,concerns,global energy supplies,United States,strikes,Iran,Houthi forces,Red Sea,shipping routes,attacks,gas,prices,rise
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