Global oil price hits $100 amid US-Iran exchanges
The price of global oil hit $100 a barrel on Wednesday morning, the first time the price reached that threshold since July 24.
Brent crude oil prices, a benchmark for global trading, climbed by about 2.7%, trading at about $100.57 a barrel for contracts with November dates.
U.S. oil traded at about $95 a barrel, up by about 2%.
The price of global oil has been rising throughout the week amid intensified exchanges between the U.S. and Iran centered on the Strait of Hormuz, plus an escalation of fighting between Iran-backed Houthi rebels and Saudi-backed government forces in Yemen.
-ABC News' Zunaira Zaki and Kevin Shalvey





