Global oil markets are bracing for a potential surge in prices as tensions between the US and Iran escalate. Oil prices skyrocketed to their highest level since the start of the US-Iran conflict in January, only to dip slightly after reports emerged that President Trump may be considering a renewed military campaign against the Islamic Republic. The development has sent shockwaves through the energy sector, with investors scrambling to assess the implications of a potential increase in hostilities. As the situation remains fluid, oil prices are likely to remain volatile in the coming days, with traders closely monitoring developments from the White House and Tehran.
Oil prices surged to their highest level since the beginning of the US-Iran war early Thursday before retreating on the strength of fresh reports that President Trump could soon resume attacking the Islamic Republic.
