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Commodities

US-Iran Tensions Fuel Oil Price Surge

Guavy AI Editorial Team
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Oil
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Oil prices remain above $100 per barrel due to ongoing uncertainty over the US-Iran conflict and military deployments. The benchmark Brent Crude was trading at around $102 (Sh13,158) a barrel on Friday, after settling at $102.25 (Sh13,190) on Thursday.

The market's sensitivity to geopolitical developments is evident in prices remaining above the $100 mark despite recovering oil flows from the Persian Gulf.

The latest pressure comes as reports emerge of the US deploying a third aircraft carrier strike group to the Middle East alongside additional military personnel, raising concerns that the conflict could escalate further.

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