Brent crude contracts rose more than $3 around midday Wednesday, as a fresh wave of military strikes between U.S. and Iran and fears over prolonged Strait of Hormuz closure sent the international oil benchmark above $100/bbl for the first time since July.

At 11:50 a.m. ET, London-based November ICE Brent was up around $3.50 to $101.35/bbl and December Brent was $2.80 higher to $97.20/bbl.

October NYMEX West Texas Intermediate was also up by around $3.45 to $96.45/bbl and November WTI was $2.90 higher to $92.90/bbl.

Diesel contracts rallied on intense supply worries while gasoline prices retreated. October ULSD was up 17.70cts to $4.7485/gal and November ULSD was 16cts higher to $4.5795/gal. October RBOB was down 4.45cts to $3.2075/gal and November RBOB was 1.75ct lower to $3.0480/gal.

Petroleum futures surged on news that the U.S. destroyed four Iranian tankers in the Gulf of Oman and one near Kharg Island on Tuesday, following attempts by Tehran to strike American warships.

Andrew Lipow, president of Houston-based Lipow Oil Associates, said in a Wednesday note that the market was also worried about the U.S. commercial oil hub at Cushing, Okla., being close to hitting tank bottom, or minimal operating inventory, estimated at between 18 million bbl and 20 million bbl.

The latest Energy Information Administration data showed Cushing oil stocks were at 22.5 million bbl for the week ended Aug. 28.

A tank bottom at Cushing -- following continued drawdowns of commercial oil inventories since the start of the Middle East conflict -- could stop oil from flowing out of the storage hub and reduce vital U.S. crude oil exports.