Oil Prices Exceed $100 Per Barrel Amidst Middle East Conflict

Why it matters locally: South Carolina consumers are likely to experience increased costs at the pump and for various goods, as the state's economy is impacted by global energy prices. Higher transportation costs could affect the prices of goods moving through the state's ports and distribution networks.

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Global oil prices rose above $100 per barrel on Thursday. This increase follows renewed fighting and military strikes in the Middle East. These developments have affected global oil supplies. Consumers may see higher costs for various goods. These include gasoline, groceries, and back-to-school supplies. The rise in oil prices contributes to these potential increases.