India, July 23 -- Global oil prices crossed $100 per barrel for the first time since May on Thursday. The rise came as the widening conflict in the Middle East increased fears of disruptions to global oil supplies. Brent crude, the global oil benchmark, jumped more than 6% and briefly touched $100.14 per barrel before easing slightly. West Texas Intermediate (WTI), the main US oil benchmark, also climbed nearly 5% to $90.98 per barrel.

US crude oil continued its rally for a second straight day, rising more than 5% to nearly $92 per barrel. This was its highest level since June 11, according to NBC News. The latest jump in oil prices was triggered by fresh tensions involving Iran-backed Houthi rebels. The group claimed it attacked two Sau...