business
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Brent Crude Tops $100 Amid Escalating Middle East Conflict
July 31, 2026
Why it matters locally: Higher crude oil prices could translate to increased fuel costs for South Dakota consumers and businesses, potentially impacting transportation, agriculture, and other key industries in the state.
Brent crude oil prices exceeded $100 per barrel on Thursday, November 2, for the first time in five months. The international benchmark for oil climbed more than 5% during trading hours. This price surge occurred as a conflict in the Middle East continued to intensify. The last time Brent crude reached this price point was in May.
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