Commodities
US-Iran Tensions Drive Oil Prices to Six-Week Highs
Oil prices have reached their highest level in six weeks due to escalating tensions between the US and Iran.
The Brent crude futures for November delivery rose 0.2% to $97.20 a barrel, while US West Texas Intermediate futures for October jumped 1.07% to $92.56 per barrel.
The increase in oil prices is attributed to concerns over the recent strikes between the two countries, which have heightened tensions further.
David Morrison, senior market analyst at Trade Nation, described the situation as a 'major escalation.'