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Commodities

US-Iran Conflict Drives Oil Prices Up 1% Amid Global Supply Disruptions

Guavy AI Editorial Team
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Oil
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Oil prices saw a 1% gain on Wednesday in a volatile session driven by renewed military strikes between the US and Iran, which have restricted world oil supply.

The conflict has now entered its seventh month, with the latest attacks representing the biggest exchange of fire between Tehran and Washington since July. The US-Iran war has led to tightened security measures and disruptions in global energy markets.

Brent crude futures settled up 98 cents at $95.63 a barrel, while US West Texas Intermediate crude futures rose 79 cents to settle at $91.01.

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