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Commodities

US Weighs Escalation in Middle East as Oil Prices Soar

Guavy AI Editorial Team
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Oil prices surged for a third consecutive day as the US weighs sending another aircraft carrier group to the Middle East, potentially escalating tensions with Iran and disrupting energy flows from the region.

The West Texas Intermediate (WTI) rose to around $93 a barrel after gaining nearly 3% in the previous session, while Brent settled at above $102 on Thursday. The Pentagon may deploy an additional aircraft carrier and 10,000 sailors and Marines to the Persian Gulf, giving President Donald Trump more options for military action against Iran.

The oil market is highly susceptible to price spikes due to low inventories, which have been drawn down over six months. Analysts Brian Martin and Daniel Hynes of ANZ Group Holdings Ltd. noted that investors are increasingly concerned about the risk of Iranian attacks on US assets and energy infrastructure in the region.

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