Crude Oil Futures Surge as US-Iran Conflict Shows No Signs of Abating

Crude oil futures are trading at fresh multi-week highs due to growing concerns that the US-Iran conflict will drag on. The ongoing tensions in the region have led to reports of regional escalation, further driving up prices.

The recent attacks on Saudi Arabia's Jizan refinery and Iran's hikes in gasoline prices have contributed to the increase in crude oil futures. These developments suggest that the conflict may be more prolonged than initially thought, leading investors to seek safe-haven assets like oil.