18 Hrs
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البلاد
Oil prices rise amid Iran-US tensions
Oil prices rose today, Tuesday, amid deteriorating prospects of reaching an agreement between the United States and Iran to end the war in the Middle East. Iran announced a shift to a full-scale attack and the resulting reactions, which led to a decline in ship crossings through the Strait of Hormuz and a significant increase in oil prices. Brent crude rose to $91.48 per barrel, the highest level since July, while West Texas Intermediate increased to $85.21. These developments are occurring amidst escalating tensions and Iran's transition from defense to offensive actions, with the United States ruling out extending the ceasefire.
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