WASHINGTON: Crude oil prices continued to climb in global markets on Thursday, with Brent crude breaking above the key psychological threshold of $100 per barrel. Growing tensions in the Middle East and the ongoing conflict between Iran and the United States have intensified concerns over potential disruptions to global oil supplies.
In early trading, Brent crude futures rose 0.1% to $101.34 per barrel. Meanwhile, US West Texas Intermediate (WTI) crude also gained 0.5%, reaching $96.55 per barrel.
Analysts warn that any further escalation or expansion of the conflict could cause additional disruptions to global oil supplies. The international market is already facing challenges in maintaining a balance between supply and demand due to disruptions affecting crude oil shipments from the Middle East.
With tensions continuing to mount in the region, concerns are growing that prolonged disruptions could place further upward pressure on global oil prices.
