Oil prices climbed more than 1% on Monday as escalating tensions in the Middle East heightened concerns about potential supply disruptions.
According to Reuters, Brent crude futures rose to approximately $90.61 per barrel, while U.S. West Texas Intermediate (WTI) crude reached around $87.56 per barrel.
The increase in prices is attributed to fears surrounding conflicts in the region, particularly involving Israel and Iran.
Market analysts suggest that these geopolitical issues could lead to significant impacts on global oil supply, prompting traders to react accordingly.
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As the situation develops, investors are closely watching for any signs that could influence further price fluctuations, balancing concerns over supply disruptions with ongoing market dynamics.
