Iran-US Tensions Fuel Oil Price Surge Amid Global Supply Worries

Crude oil prices have surged in recent days due to escalating tensions between the US and Iran. The conflict has fueled concerns over disruptions to global energy supplies, pushing oil toward $104 per barrel on Friday.

The price increase marks a significant weekly gain of more than 13% for the week, its biggest since mid-July. Top US officials have warned President Donald Trump that the war could continue through his term, which ends in January 2029.

Iranian leaders are reportedly determined to keep fighting despite mounting economic costs, viewing the conflict as an existential threat. They claim Tehran has rebuilt its missile capabilities and may intensify attacks on US and Gulf assets if Washington escalates its own strikes.