Middle East Conflict Drives Oil Prices to $100 Amidst Largest Supply Disruption in History.

Oil prices surge to near US$100 per barrel due to the ongoing Middle East war, which has disrupted global energy supply. The conflict has reduced oil production across Gulf states by at least 10 million barrels per day, with several oil export facilities affected by military strikes and attacks on infrastructure. The rise in oil prices has pushed broader commodity markets higher, including the Global X Bloomberg Commodity Complex ETF.