Brent Crude Soars as Middle East Tensions Escalate Amid Fed Decision Awaited

Brent crude surged nearly 7% to $87.55 per barrel on Wednesday as Middle East tensions escalated, driven by renewed fighting involving Iran.

The international benchmark oil price reflects growing concerns over energy supplies and potential disruptions to global oil flows through the Gulf region.

Iran launched a barrage of missiles targeting US forces in the Middle East, while US forces and Saudi Arabia carried out strikes against Tehran-backed militias in Iraq.

The renewed violence has revived concerns about regional stability and oil exports after weeks of volatility driven by uncertainty over Washington and Tehran's agreement on allowing oil tankers to move freely through regional waterways.