Skip to content
Guavy Logo GUAVY
Sign up
Back to Guavy Wire
Commodities

Oil Prices Soar Amid Ongoing Middle East Tensions

Guavy AI Editorial Team
Instruments
Oil
Share

Oil prices surged on Monday after renewed fighting in the Middle East put additional pressure on global energy supplies. Brent crude, the global benchmark, traded above $108 a barrel, while the U.S. benchmark was around $103.

The latest jump follows attacks that forced Saudi Arabia to shut down its key east-west oil pipeline and disrupted shipping through the Strait of Hormuz. Iran-backed Houthi rebels in Yemen launched new attacks on Saudi Arabia and seized territory along another critical Red Sea shipping route, further tightening global energy supplies.

Gas prices remain high, with diesel at a record $6.23 per gallon, according to AAA. President Donald Trump downplayed the Middle East's role in the diesel shortage, instead blaming Russia and Ukraine for causing it.

More on Commodities

Commodities 4m ago

Gold Prices Plummet to Five-Week Low Amid Rising Oil Costs and Hawkish Rate Hike Expectations

Commodities 4m ago

Fed Decision Looms Over Gold Prices

Commodities 6m ago

Kazakhstan Lands $19 Billion in South Korean Deals for Grain and Dairy Expansion

Disclaimer: Guavy is a data and market intelligence provider, not an investment adviser. The information, signals, and market analysis provided by the Guavy API and related services are for informational purposes only and are not intended as financial advice, investment recommendations, or an endorsement of any particular trading strategy. Trading in volatile markets, including cryptocurrency, carries significant risk and may not be suitable for all investors. Past performance is not indicative of future results. Users should consult with a qualified financial professional before making any investment decisions. Guavy makes no guarantee of trading profits or financial returns.

Guavy Logo GUAVY

Market sentiment intelligence for apps, funds & agents

Location

729 55 Ave SW
Calgary AB T2V 0G4
Canada

Navigate

Markets

Resources

© 2026 Guavy Inc

Terms Privacy Policy