Middle East turmoil: Oil spikes above $100 on war fears

Oil prices shot past $100 a barrel Wednesday as fighting between the U.S. and Iran escalated, threatening to increase costs for consumers and businesses worldwide.

Brent crude, the international standard, climbed into triple digits for the first time since July and settled at $101.21 a barrel. U.S. benchmark crude was close behind, finishing at $96.05 a barrel a day after attacks on oil facilities and ships in the Middle East raised the…