Oil Prices Soar Amid Fears of Prolonged US-Iran Conflict

Oil prices have surged nearly 50% since the US-Iran war began, reaching their highest level in months. Benchmark oil prices, specifically Brent, had been trading below $105 per barrel by Friday afternoon but remained almost nine percent higher for the week.

Before the conflict started, Brent was trading at roughly $70 per barrel, and its current price of around $105 represents a 50% increase. The Thursday peak of $108 marked an even larger gain of about 54% from pre-war levels.

The price surge is driven by concerns that the conflict could persist for years, with top US officials warning President Donald Trump that the war may continue through his remaining term in office.