Brent crude oil rose above USD100 a barrel on Wednesday for the first time since July as escalating tensions between the United States and Iran fueled concerns over further disruptions to energy supplies from the Middle East. Brent futures, the benchmark for Europe, gained more than 2% to reach USD100.

Brent crude moved closer to $100 as renewed U.S.-Iran tensions and threats to Gulf shipping raised fears of prolonged oil supply disruptions.

Brent crude moved closer to $100 per barrel as hopes of a near-term peace deal between the United States and Iran weakened amid...