Impact of Iran Conflict: Crude Oil Prices Rise Above $100 Again
The ongoing conflict involving Iran has caused volatility in global crude oil prices.
After a brief dip on Monday, the price of Brent Crude rebounded on Tuesday, surpassing $100 per barrel once again. According to BBC, prices in the Asian market rose by 3.75%, reaching approximately $103.69 per barrel.
Earlier, prices had fallen after Donald Trump suggested a pause in potential attacks on Iran and hinted at a possible peace agreement.
However, after Iran rejected those claims, tensions escalated again, leading to a renewed increase in oil prices.
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