Oil Prices Surge Amid Rising Iran-Israel Tensions

Global oil markets have reacted strongly to escalating tensions between Iran and Israel, with significant increases in crude prices following recent Israeli airstrikes.
According to international media reports, the price of Brent crude has surged by 7.4%, reaching $74.46 per barrel. Similarly, the price of crude oil has climbed by 5.7%, now standing at $73.15 per barrel.
Experts warn that if the situation in the Middle East continues to deteriorate, energy prices could rise even further. Such an increase could have widespread implications, affecting both developing and developed economies around the world.
The geopolitical instability in the region has reignited fears of supply disruptions, pushing traders and markets into a state of caution and volatility.