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Oil rises over 2% on Iran-US tensions
Oil prices increased by more than 2% today, Monday, with Brent crude surpassing $90 per barrel. This rise is due to escalating tensions between the United States and Iran in the Middle East, which have disrupted energy shipments passing through the Strait of Hormuz. Brent crude rose by $2.28 to reach $90.38, marking the highest level since June 11, after experiencing the largest weekly gain since April at 15.9% last week. Additionally, the US West Texas Intermediate traded at $84.46 per barrel, an increase of $1.97, the highest since June 12. The escalation of conflict in the region, along with ongoing attacks and a naval blockade on Iran, reflects real risks to global oil exports, amid reports of intensified military operations and their impact on energy markets.
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