US crude settled above $100 a barrel for the first time since 2022, with West
Texas Intermediate rising over 3% to $102.88, the highest since July 2022.
Global benchmark Brent is on track for a record percentage gain in March. Prices
have surged as the war involving the US, Israel and Iran disrupts markets and
halts shipments through the Strait of Hormuz, raising concerns over higher
inflation and slower economic growth.