Oil Prices Soar to Near $100 as US-Iran Tensions Escalate

Crude oil prices have surged in recent weeks, driven by renewed tensions between the US and Iran.

The Brent crude price has climbed to around $96-$99 per barrel, its highest level in nearly one and a half months.

Fears of disruptions to global supplies and tanker movements through the Strait of Hormuz have led traders to build a sizeable geopolitical risk premium into prices.

While actual supply losses remain limited, concerns over future disruptions continue to dominate market sentiment.