Oil prices have surged to their highest point in over five months, with Brent crude reaching $114.72 a barrel amid growing tensions in the Middle East. The spike follows Tehran’s warning of potential retaliatory strikes against Gulf oil and technology infrastructure, sending shockwaves through global energy markets. Traders are reacting to heightened risks of conflict disrupting supply chains, pushing crude prices up by 1% in early trading. The escalation underscores renewed volatility in an already strained market.
Brent crude rises to $114.72 a barrel after Tehran threatens retaliatory attacks on Gulf oil and tech facilitiesBusiness live – latest updatesOil has hit its highest level in more than five months as fears of fresh escalation in the Middle East conflict grip the energy markets.Brent crude, the international benchmark for oil, rose by 1% on Friday morning to $114.72 a barrel – its highest level since May. Continue reading...
