Oil nears $100 as fresh Middle East strikes raise supply risks

Oil prices increased for the fourth consecutive session on Wednesday, with Brent crude futures rising 1.4 percent to reach $99.33 per barrel. The gains, which exceeded $1 in early trading, were driven by market concerns regarding potential supply disruptions following renewed military strikes across the Middle East. US West Texas Intermediate crude was also reported to be trading at $94 per barrel. The sustained upward trend in pricing reflects heightened geopolitical instability in the region and its immediate impact on global energy markets.