Global Oil Prices Surge as U.S.-Iran Conflict Intensifies
London:** Global oil prices continued to climb sharply as military tensions between the United States and Iran escalated, with U.S. airstrikes on Iranian targets entering their third consecutive day.
According to international media reports, crude oil prices, which had been declining after the ceasefire, have rebounded significantly. After rising by nearly **9%** the previous day, prices gained an additional **5%** in the latest trading session.
Brent crude traded as high as **$87.49 per barrel**, marking its highest level since **June 12**, while West Texas Intermediate (WTI) crude climbed above **$80 per barrel**.
Market analysts warn that if hostilities between the United States and Iran continue, Brent crude could rise above **$90 per barrel**, with some experts not ruling out the possibility of prices reaching **$100 per barrel**.
Higher crude oil prices are expected to increase fuel, transportation, and electricity costs worldwide, raising concerns about a renewed surge in global inflation. The situation could also influence interest rate decisions by central banks in the United States, Europe, and Asia.
Meanwhile, U.S. airstrikes on Iran continued for a third straight day. In response, Iran claimed to have targeted U.S. military facilities and interests in Jordan, Egypt, Kuwait, and other Gulf countries as part of its retaliatory operations.
