Singapore (Commerce Desk): Following a significant increase in global crude oil prices, rates have reached their highest level in the past six months.
According to ARY News, the upward trend in global oil markets continues. Brent crude rose by 3.14%, closing at $116.72 per barrel.
Similarly, the price of US West Texas Intermediate (WTI) crude increased by 3.82%, bringing it to $103.27 per barrel.
According to foreign media reports, the lack of negotiations between the United States and Iran, along with reports of possible attacks on Iran, has heightened concerns in global markets.
Reports indicate that escalating tensions in the Middle East have further disrupted crude oil supplies, leading to continued price increases in international markets.