Iran-US Tensions Send Oil Prices Soaring to $95.52 per Barrel

Escalating tensions between Iran and the United States have once again rattled the global energy market, pushing crude oil prices up by about one percent in early trading on Wednesday.

The concerns over potential supply disruptions in the Middle East drove Brent crude to rise by $0.87, or 0.92%, to reach $95.52 per barrel, while U.S. West Texas Intermediate (WTI) gained $0.80, or 0.89%, trading at $91.02 per barrel.

This upward trend in oil prices follows a sharp surge observed just a day earlier, when both Brent and WTI recorded massive gains exceeding $4 per barrel. Tuesday's increase marked the largest single-day jump for Brent crude since July 24, while WTI experienced its most significant rally since July 23.

According to energy experts, fresh military confrontation between the US and Iran and fears of disrupted oil shipments from the Middle East are driving global market prices further upward, with continued volatility expected if regional tensions persist.