Commodities
WTI Crude Oil Prices Soar on Escalating Middle East Tensions
WTI crude oil prices surged to $91.74 on July 23, a 6% increase from the previous day's close.
The sharp rally was driven by escalating Middle East tensions and uncertainty over the Iran conflict.
Reports of explosions in Kuwait and Iran have heightened fears of a broader regional escalation, impacting energy supply stability.
As crude prices rise, U.S. gasoline prices have also increased, raising inflation concerns among consumers.