Oil Prices Surge to One-Month High Amid Persian Gulf Tensions
Global oil prices have climbed to their highest point in four weeks, with Brent crude futures surpassing $86 per barrel, driven by concerns over shipping disruptions in the Strait of Hormuz following U.S. actions against Iran.
According to the International Desk of Webangah News Agency, oil prices on Tuesday surged by over 2 percent to reach a four-week peak. This increase is attributed to U.S. incursions impacting maritime traffic in the Persian Gulf, leading to disruptions in the Strait of Hormuz.
Al Jazeera reported that Brent crude futures saw a 2.5 percent rise, settling at $85.60 per barrel. RT further highlighted that Brent crude has now exceeded $86 per barrel, a level not seen since June 12.
West Texas Intermediate (WTI) crude futures also experienced a significant uptick, advancing 2.74 percent to $80.28 per barrel. Current oil prices are at their highest levels since the agreement between Iran and the United States on June 17.
© Webangah News, Mehr News Agency, Al Jazeera, RT
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