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Commodities

Oil Prices Soar Amid Fresh Middle East Tensions

Guavy AI Editorial Team
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Oil
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Oil prices surged in Asian trading on Wednesday after fresh tensions erupted in the Middle East following Iran's ballistic missile attack targeting US forces in the region.

Brent crude futures for September delivery climbed 3.42% to $86.97 per barrel, while US West Texas Intermediate (WTI) crude futures rose 3.58% to $82.09 a barrel.

The escalation came after US and Saudi forces carried out strikes on 'multiple terrorist logistics and weapons sites' in eastern Iraq on Tuesday, CENTCOM said.

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