Oil prices surpass $100 a barrel for the first time in over three years

Singapore: Oil prices today surpassed the $100 per barrel mark for the first time in over three and a half years, amid the repercussions of the Iranian war that are disrupting production and shipping in the Middle East.

The price of Brent crude, the global benchmark, reached $101.19 a barrel shortly after trading resumed on the Chicago Board of Trade, up 9.2 percent from Friday's closing price of $92.69.

West Texas Intermediate crude rose 16.2 percent to $107.06 a barrel, up from Friday's closing price of $90.90.

Both prices are expected to rise or fall as trading continues.