KABUL: Global oil prices have climbed nearly 9% following escalating tensions between Iran and the United States, raising concerns over potential disruptions to energy supplies from the Middle East.
According to international media reports, Brent crude initially traded about 3% higher at the start of Monday’s session but ended the day up 8.92%, closing at $82.79 per barrel.
Analysts say the sharp increase reflects growing market concerns over possible disruptions to oil exports from the Middle East, a region that accounts for a significant share of global crude supplies.
Reports indicate that continued military tensions between Iran and the United States have heightened investor anxiety over the global energy market, contributing to the upward trend in oil prices.