Oil Prices Surge After Attacks and Threats

Oil prices surged, climbing 4% at the start of trading in Asian commodity markets, before slightly receding. This increase followed the US bombings in Iraq over the weekend and threats of retaliation from Tehran, raising concerns about potential disruptions to the global oil supply.

The barrel of US WTI crude rose by 2.53% to $75.71, having previously reached $77.

Meanwhile, the North Sea Brent crude barrel increased by 2.42%, reaching $78.97, having earlier exceeded $81, reaching a six-month high.

Source: ΚΥΠΕ