Brent crude price surged above $105 a barrel amid escalating US-Iran conflict. The prolonging conflict further intensified concerns about energy supply disruptions.
The international benchmark rose 4% to $105.24 per barrel, reaching its highest level since May.
Meanwhile, US benchmark West Texas Intermediate (WTI) crude increased 4.4% to $100.27 per barrel.
WTI also crossed the $100 threshold for the first time since May, reflecting growing concerns over potential supply disruptions.
The latest price surge came as tensions between the United States and Iran continued to escalate.
Investors remained focused on the potential impact of the conflict on oil production, exports and shipping routes across the region.
Brent crude serves as a key global benchmark, making its sharp rise particularly significant for energy markets and consumers.
Similarly, WTI’s move above $100 highlighted the growing pressure on international oil prices.
Market participants are closely monitoring developments as further escalation could threaten energy supplies and increase volatility in global markets.
The continued rise in crude prices could also increase fuel costs for countries that rely heavily on imported energy.
Analysts are expected to closely watch the conflict’s impact on production and transportation as markets assess the risk of longer disruptions.
For now, oil markets remain highly sensitive to developments involving the United States and Iran, with traders assessing the possibility of further price increases.
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