Global Oil Prices Surge Past $100 Amid Fears of Prolonged Supply Shock

Global energy markets are experiencing a significant surge as Brent and WTI crude prices have both cleared the $100 per barrel threshold. The rally is primarily driven by the prolonged conflict in the Middle East, which has lasted longer than initial projections, sparking deep supply concerns. Brent crude recently touched $116 per barrel, while Murban crude demonstrated even stronger momentum by surging past the $120 mark. A rare price parity was observed between Brent and WTI at the $116 level, signaling a major disruption in standard market correlations. Analysts expect these elevated price levels to persist, intensifying global inflationary pressures and impacting energy-dependent economies. This supply-side shock is directly boosting valuations across the energy sector, including major exchange-traded funds like USO and XLE.