Commodities
Middle Eastern Supply Risks Drive Oil Prices to Near-Highs
Oil prices continued their upward trend on Tuesday, with WTI crude trading near $92.36 per barrel and Brent crude rising to around $97.34 per barrel.
The surge in oil prices is driven by escalating supply risks in the Middle East, particularly after attacks on vessels near the Strait of Hormuz and Saudi Arabian energy facilities.
WTI rose nearly 10% for the week, while Brent gained approximately 8%, as the market moved closer to the $100 threshold again.