News Desk
LONDON: Global crude oil prices climbed by more than 2% amid renewed uncertainty in the Middle East, according to market data.
Benchmark Brent crude oil rose to around 107 dollars per barrel, while WTI crude oil increased to about 96 dollars per barrel.
Traders said the surge was driven by fears of supply disruption linked to heightened tensions around the Strait of Hormuz, a key route for global oil shipments.
Earlier reports had also pointed to rising volatility in energy markets due to escalating US-Iran tensions, which have kept investors cautious.
Analysts warn that any further disruption in the region could push prices higher and increase pressure on global inflation.
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