Oil Prices Rise Amid U.S.–Iran Tensions

Global oil prices have climbed again in Asian markets due to escalating tensions between the United States and Iran.

The global benchmark Brent Crude Oil rose by 2.6% to reach $102.70 per barrel, while West Texas Intermediate increased by 2.3% to $97 per barrel.

The surge follows a recent exchange of fire between U.S. and Iranian forces near the Strait of Hormuz, a critical route for global oil shipments. The U.S. said it responded after its vessels came under attack.

Donald Trump stated that American warships remain safe and claimed that Iranian small boats were destroyed during the response.

However, Iran has accused the U.S. of violating the ceasefire. With the fragile truce weakening in recent weeks, fears are growing that the conflict could intensify again, potentially causing further instability in global energy markets.