Brent crude tops $106, WTI above $100 as US & Iran strike oil hubs

The Brent crude futures traded over $106 per barrel, while WTI crude also crossed the $100-mark on Monday. Oil prices surged after the US strikes on Kharg Island, Iran's primary oil export hub, and Iran's retaliatory drone attack on the Fujairah oil terminal in the UAE heightened fears of supply disruptions. Prices first crossed the $100 mark on March 8-9.