Oil Prices Surge as US-Iran Conflict Escalates

Oil prices rose on Wednesday after fresh US strikes on Iran heightened concerns about potential disruptions to global oil supplies and increased the risk of further escalation in the Middle East.

Brent crude rose 0.8% to $95.4 a barrel, while U.S. West Texas Intermediate crude gained 0.5% to $90.66 a barrel.

The gains came after renewed military action between the United States and Iran raised concerns that the conflict could broaden and disrupt energy infrastructure and oil shipments from the region.

Investors are particularly focused on the potential impact on crude flows through the Strait of Hormuz, a critical shipping route linking major oil-producing countries in the Middle East with global markets.