Commodities
Middle East Tensions Fuel 10% WTI Oil Price Surge Amid Escalating US-Iran Conflict
WTI oil prices have surged over 10% this week, rising to around $90.20 per barrel during Asian hours on Friday.
The dramatic rally comes as escalating tensions in the Middle East stoke fears of widespread global oil supply disruptions.
The United States has launched its 13th consecutive day of strikes against Iran, with both nations ruling out near-term diplomatic talks.
President Trump has threatened 'major military punishment' against Iran and Houthi forces over any subsequent strikes on Red Sea shipping, while noting that he is considering a 'massive attack' on Iran itself.