Commodities
Middle East Tensions Send Oil Prices Soaring Above $107
Oil prices surged on Monday, with Brent crude climbing above $107 a barrel, due to heightened tensions in the Middle East and concerns over potential disruptions to global energy supplies.
The price of Brent crude for November delivery rose 2.8% to $107.54 a barrel, while US benchmark West Texas Intermediate (WTI) for October delivery gained 2.3% to $102.34.
The upward movement in oil prices continued from the previous week's gains, with investors focused on developments in the Middle East and the potential impact of attacks and security threats on major export routes critical to global oil supplies.