Oil Prices Rise for Fifth Day Amid US-Iran Tensions Over Supply Routes
Oil prices climbed for a fifth consecutive day as escalating tensions between the United States and Iran raised concerns over potential supply disruptions in key oil transit routes. Brent crude futures rose 4% to $97.87 per barrel, while U.S. West Texas Intermediate crude increased by 3.2%. The situation is compounded by renewed conflict at both the Strait of Hormuz and Bab el-Mandeb strait.
Tickers: $GS