Oil Prices Rise Amid U.S.-Iran Tensions And Military Threats
Oil prices surged Friday as renewed U.S. threats against Iran raised concerns over potential military action and disruptions to global crude supply.
Oil prices rose on Friday after U.S. President Donald Trump renewed his threats against Iran, intensifying worries about possible military action and supply disruptions.
Reuters reported that Brent crude reached $64.41 per barrel, while U.S. West Texas Intermediate crude rose to $59.69 per barrel.
This increase follows a roughly 2 percent drop in prices on Thursday, reflecting heightened volatility in global energy markets.
Trump stated that U.S. naval ships have been dispatched toward Iran, though he expressed hope that military force would not be necessary.
Iran is OPEC’s fourth-largest oil producer and a major exporter to China, the world’s second-largest oil consumer, giving it significant influence on global markets.
Analysts warn that tensions in the Middle East often trigger spikes in oil prices, as the region accounts for a substantial portion of global crude production.
Market observers will closely watch developments between the U.S. and Iran, as any escalation could further disrupt oil exports and drive energy prices higher.
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