New York (Commerce Desk): Rising tensions related to Iran and reports of a possible closure of the Strait of Hormuz have triggered significant volatility in global financial and energy markets, creating uncertainty among investors.
During early trading sessions in Asia, Brent crude oil prices recorded a sharp increase, reaching nearly 97 dollars per barrel.
Similarly, US crude oil prices also saw an upward trend, rising 6.4 percent to reach 88 dollars per barrel.
According to experts, escalating tensions in the Middle East and concerns over key energy supply routes are directly impacting global markets, while investors are adopting a cautious approach amid uncertainty.
