Oil rises amid US-Iran Middle East tensions
Oil prices rose on Monday following renewed American and Iranian strikes in the Gulf, which heightened market tension and led to a decline in shipping flows through the Strait of Hormuz. Brent crude increased by 0.8% to $72.57 per barrel, while West Texas Intermediate rose to $70.11, amid ongoing risks stemming from the escalation of military activity in the region. Experts stated that the market remains focused on how the continued escalation of tensions will impact the global oil supply balance.
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