Commodities
US-Iran Tensions Spark Oil Price Surge to Six-Week High
Crude oil prices surged to their highest in six weeks due to renewed tensions between the US and Iran, as well as attacks on Saudi Aramco facilities. Brent crude reached $97.73 per barrel, while US West Texas Intermediate hit $93.10.
The situation remains fragile, with potential supply shocks looming amid geopolitical tensions and refinery damages in the Middle East and Russia.
An oil expert predicts that despite the recent increase in prices, US gasoline prices could fall in October as refiners switch to cheaper winter blends.