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Oil climbs as Middle East tensions increase
Oil prices rose today amid renewed tensions in the Middle East between the United States and Iran, leading to a slowdown in energy shipments passing through the Strait of Hormuz. Brent crude increased to $72.57 per barrel after a 10.6% drop last week, while West Texas Intermediate reached $70.11. Meanwhile, Saudi Aramco resumed oil loading at Ras Tanura after a four-month halt. Markets are awaiting the outcomes of regional and international talks to reassess shipping routes and ensure the security of oil exports.
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