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Oil up over 5% on Middle East tensions
Oil prices rose by more than 5% amid escalating tensions in the Middle East, with markets trading nervously due to the possibility of the United States conducting large-scale military operations in Iran in the coming weeks. Brent crude increased to $105.36 per barrel, while West Texas Intermediate rose to $92.75, as Washington considers launching military strikes before the November elections. Meanwhile, Houthi attacks on Saudi Arabia and threats to the Strait of Hormuz are intensifying, posing a risk to global oil supplies.
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