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Commodities

Brent Crude Rises on Ongoing US-Iran Conflict

Guavy AI Editorial Team
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Oil
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The price of Brent crude oil settled 1 percent higher on Wednesday, driven by renewed military strikes between the US and Iran that have restricted world oil supply.

The latest attacks mark a significant escalation after roughly a month of relative calm, with the US targeting Iranian radar and mine-laying capabilities and Iran retaliating against US positions across the region.

Brent crude futures settled up 98 cents at $95.63 a barrel, while US West Texas Intermediate crude futures rose 79 cents to settle at $91.01.

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