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Global oil prices climb amid Middle East supply worries
Oil prices worldwide rose on Tuesday amid renewed fighting between the United States and Iran in the Middle East, increasing concerns over potential disruptions to supplies from this key crude-producing region. Brent contracts increased by 0.6%, reaching $91.05 per barrel, while U.S. West Texas Intermediate contracts rose by 1% to $86.59. This uptick comes amid growing tension after U.S. President Donald Trump threatened to carry out additional attacks on Iran, and as maritime traffic through the Strait of Hormuz was affected by the military escalation—highlighting a state of uncertainty in global oil markets.
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