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Oil gains as US and Iran talk
Oil prices rose by more than 2% today, Monday, amid escalating military tensions in the Middle East following exchanges of strikes between the United States and Iran, and Israeli forces advancing into Lebanon. West Texas Intermediate (WTI) crude reached $89.65 per barrel, while Brent crude climbed to $93.17, amid growing concerns over potential disruptions to global oil supplies. The escalation, including attacks on sites inside Iran and a base in Lebanon, has heightened market anxiety regarding the Strait of Hormuz, through which approximately one-fifth of the world's oil supplies pass.
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