Brent crude climbs to $101 a barrel

Global oil prices continued to climb as tensions between the United States and Iran intensified, raising concerns over potential disruptions to energy supplies and shipping routes.

In the international market, Murban crude surged by around 7.5%, reaching $118 per barrel as traders reacted to the escalating tensions.

Brent crude also recorded a significant increase, rising by $3 to $101 per barrel. Meanwhile, West Texas Intermediate (WTI) crude gained $1, taking its price to $97 per barrel.

The sharp rise in oil prices reflects growing uncertainty in global energy markets as investors closely monitor developments between Washington and Tehran. Any further escalation could increase concerns about crude supplies from the Middle East, one of the world’s most important oil-producing regions.

Higher crude prices could also put additional pressure on fuel markets worldwide, potentially increasing petrol, diesel and transportation costs in oil-importing countries.

Market participants are expected to remain focused on the situation in the coming days, with further increases possible if tensions continue to escalate or threaten energy infrastructure and major oil shipping routes.