Commodities
Oil Prices Surge Amid US-Iran Conflict Escalation
The global benchmark for oil prices, Brent crude, rose sharply by 5.38% to $95.36 per barrel on Tuesday amid renewed tensions between the United States and Iran.
The US-Iran conflict has heightened concerns of supply disruptions from the Middle East, causing a significant increase in oil prices.
The closing price for Brent crude was the highest since July 24, while the US West Texas Intermediate (WTI) benchmark rose by 5.95% to $90.86 per barrel, its highest point since July 23.