London (Commerce Desk) Global crude oil prices have reached their highest level since 2022, causing significant volatility in the energy markets.
Brent crude oil prices rose by 8 percent, reaching $118.80 per barrel. Similarly, US crude oil increased by 7 percent, reaching $107 per barrel.
Meanwhile, US President Donald Trump also held a meeting with senior officials of oil companies, during which the global energy situation was discussed.
According to White House officials, consultations were also held on the potential impact on global oil markets if a possible blockade in Iran were to continue for an extended period.
The report indicates that rising tensions and uncertainty in key supply routes are contributing to sharp movements in global energy prices.
