US-Iran Tensions Fuel Oil Price Surge

Oil prices have extended their gains as tensions between the US and Iran escalate once again. The renewed military exchanges between the two nations, coupled with Donald Trump's vow to hit Tehran 'hard,' have fueled fears of a broader escalation after weeks of relative calm.

The price increase comes amidst heightened tensions in the region, which has sparked concerns about potential disruptions to global oil supplies. As US-Iran tensions flare up, investors are becoming increasingly anxious about the impact on the global energy market.

Oil prices have been rising steadily since the start of September, with some analysts warning that a full-scale conflict between the US and Iran could send shockwaves through the global economy.