Oil prices rise in global markets due to US-Iran tensions

Growing tension between the United States and Iran is affecting global oil markets. The lack of an agreement between the US and Iran and the increasing tension in the form of a blockade of the Strait of Hormuz are having a negative impact on the prices of petroleum products.

There is a trend of increasing crude oil prices in the global market and the prices of petroleum products are increasing over time.

Oil Prices Continue to Increase

Recent data shows that major oil benchmarks have gone up:

• Brent crude has risen by more than 3%, reaching $101.46 per barrel
• WTI crude is up by 2.87%, now at $92.24 per barrel
• Murban crude from Abu Dhabi has increased by 4.88%, reaching $100.99 per barrel

These increases show that the market is reacting strongly to political tensions and supply concerns.

The news agency Reuters says that the risk of increasing crude oil prices globally remains high. Brent crude oil prices have recorded a significant increase of more than $ 3 in the global market.