NEW YORK, July 3: Brent crude rose 3 per cent and pushed back above $100 a barrel on Tuesday as mounting tension over Iran.

Both Brent and US crude rallied more than $4 intraday, with Brent eclipsing $100 for the first time since June 11.

Brent prices have recovered from an 18-month low of $88.49 on June 22, having retreated from the 2012 peak above $128 hit in early March.

Recent data pointing to slowing global growth has fuelled hopes that policymakers in China, Europe and the United States will provide more stimulus to shore up sputtering economies.

Brent crude rose $3.19 to $100.53 a barrel by 12:43 pm EDT (1643 GMT), having reached $101.58, the highest intraday price since front-month Brent reached $101.90 on June 11. US crude was up $3.50 at $87.25 a barrel, having swung from $83.33 to $88.04.—Reuters