Crude gains 2% as prolonged conflict disrupts shipping and raises concerns over Middle East energy supplies.
Image: Analytics Insight
Oil prices climbed around 2% as escalating tensions between the United States and Iran heightened concerns about disruptions to global energy supplies.
The rise came as the conflict entered its sixth month, with growing uncertainty surrounding oil shipments and maritime traffic in the region.
Slower shipping activity has intensified fears that prolonged disruptions could tighten crude supplies, prompting traders to push prices higher.
Market participants are closely monitoring developments around the Middle East, with any further escalation potentially putting additional pressure on oil flows and driving prices even higher.
