Oil prices just hit $100 a barrel again. Here’s what that could mean for consumers

Oil prices have surged past $100 a barrel for Brent crude and topped $90 for West Texas Intermediate, driven by tensions in the Middle East after attacks on Saudi oil tankers. This spike is likely to have significant implications for consumers, potentially leading to higher inflation and increased costs for goods and services. Given the geopolitical context, these price hikes could also impact global economic stability, affecting everything from consumer spending to interest rates set by the Federal Reserve.