DID Press: Brent crude climbed 6.7% to $87.55 per barrel after renewed military tensions involving the United States, Israel, and Iran heightened concerns over potential disruptions to global oil supplies.
Market sentiment was driven by fears that the escalating regional conflict could threaten key energy export routes and tighten global crude supplies, fueling a sharp increase in oil prices.
Brent crude, which had fallen to around $72 per barrel earlier this month, surged to as high as $102 per barrel last week amid heightened uncertainty surrounding oil exports from the Middle East.
Analysts say oil markets remain highly sensitive to developments in the region, with any further disruption to energy infrastructure or major shipping corridors likely to trigger additional price volatility.