Oil prices climbed Monday as threats from U.S. President Donald Trump and Iran raised fears of attacks on Middle Eastern energy infrastructure.
Brent crude futures increased $1.01, or 0.9%, reaching $113.20 a barrel, continuing momentum from last Friday’s highest level since July 2022.
U.S. West Texas Intermediate rose 62 cents, or 0.63%, hitting $98.85 a barrel and extending a 2.27% gain from the previous session.
Markets reacted sharply to heightened geopolitical tensions, reflecting traders’ worries over potential disruptions to global oil supply and regional stability.
Investors closely monitor statements from Washington and Tehran, as any strike on energy facilities could reverberate across international markets.
Analysts caution that the situation could drive crude prices higher if hostilities intensify, potentially affecting global inflation and energy-dependent industries.Oil prices rise after Trump and Iran threaten attacks on energy sites
