Oil Prices Surge Over 2% Amid Middle East Tensions

Global crude oil prices rose by more than 2% in international markets amid renewed uncertainty in the Middle East, traders said.

Brent crude climbed to around $107 per barrel, while West Texas Intermediate (WTI) reached approximately $96 per barrel, reflecting heightened risk premiums in global energy markets.

Analysts attributed the sharp increase to growing geopolitical tensions in the region, particularly concerns related to shipping security and supply stability. Earlier also, escalating tensions between the United States and Iran around the Strait of Hormuz had pushed crude prices higher due to fears of potential disruption in one of the world’s most critical oil transit routes.

Market experts say oil prices are likely to remain volatile as investors closely monitor developments in the Middle East, which plays a key role in global energy supply chains.