Oil Prices Rise Amid Escalating U.S.-Iran Tensions
Oil prices extended their gains, with Brent crude surpassing $101 per barrel amid heightened tensions between the United States and Iran. The conflict, now in its seventh month, has intensified as the U.S. military destroyed five Iranian oil tankers following an attempted attack on a warship. Analysts warn that continued escalation could push prices above $120 a barrel due to potential supply disruptions. Goldman Sachs highlighted growing risks from attacks on shipping and infrastructure, which may further tighten physical markets. Additionally, U.S. President Donald Trump's top advisers have privately discussed the possibility of prolonged conflict through his remaining term in office.
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