The price of oil has risen above $100 a barrel for the first time since July as the escalating conflict in the Middle East threatens further disruption to global supplies.

Brent crude, the international benchmark for oil prices, rose 2.7% to about $100.6 after tensions increased in the Gulf amid the latest tit-for-tat exchange of fire between the US and Iran.

UK and mainland Europe gas prices also soared on Wednesday. The benchmark Dutch gas contract rose by almost 4% to €78.73 a megawatt hour, the highest since January 2023. Meanwhile, the British contract rose by 7.77p to 196.57p a therm, the highest since December 2022.

  • bedwyr@piefed.ca
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    2 days ago

    Iran has to think about effective measures for the future of their country. And if the gulf monarchies survive unassassinated, they will not be safeguarding their nations.

    Iran needs to kill the ruling families of the UAE, and Saudi Arabia. I am fucking serious, it’s a dereliction of duty if they don’t. They have plenty of time, this is a forever war.

      • bedwyr@piefed.ca
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        2 days ago

        The gulf monarchs are in it. You are saying lets let their citizens suffer, and let the ones causing the war go unscathed.

        There is only one thing they understand. And there are VERY FEW foreign despots more deserving of justice than the ruling families of the Saudis and UAE.

        They are also both super unpopular across the west. On the left right and center, everyone hates them except our politicians and their business partners, funny how that works.

        Your comment is beyond wrong headed in my estimation.