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Oil rises 2% on Middle East tensions
Oil prices rose significantly amid escalating tensions in the Middle East, especially after Iran threatened to retaliate against any US attacks, fueling concerns over supply disruptions. Brent crude oil prices increased to around $97.95 per barrel, the highest since July, while West Texas Intermediate rose to $93.33. Expectations suggest that shipping and supply disruptions may continue into the end of 2026, with prices possibly remaining high into the next year due to the ongoing conflict between the United States and Iran.
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