Commodities
WTI Oil Surges Amid Escalating US-Iran Conflict
Oil prices surged on Thursday as tensions between the US and Iran escalated, with West Texas Intermediate (WTI) US Oil rising to around $97.00 per barrel.
The increase of 2.93% came as concerns over potential disruptions to energy supplies from the Middle East grew, following a series of attacks on vessels and energy facilities in the region.
A senior Iranian official stated that Iran was ready for a more intense war if the US continued attacking its territory and infrastructure, while US President Donald Trump warned that significant relief in gasoline prices is unlikely before November's midterm elections.