Oil Prices Surge as US-Iran Conflict Deepens

Oil prices have surged nearly 50 per cent since the US-Iran conflict began, reaching their highest level in over three months.

Brent crude, the global benchmark, was trading at around $70 per barrel before the conflict started. Now it's hovering above $105, a 54 per cent increase from its pre-war price.

The rise is largely due to concerns that the conflict could persist for years, with top US officials warning President Donald Trump of the possibility.

Iranian leaders have described the conflict as an 'existential threat' and signalled that attacks on US and Gulf assets could intensify.