Oil prices surged past $107 per barrel after Brent crude climbed over 3 percent, reflecting heightened market volatility amid escalating tensions between global powers. The spike comes as diplomatic efforts to de-escalate conflict appear stalled, with Washington rejecting Tehran’s latest proposal to halt hostilities. Traders reacted sharply to the political impasse, pushing crude futures to multi-month highs amid concerns over supply disruptions. Analysts warn the rally could intensify if geopolitical risks persist, keeping energy markets on edge.
Brent crude rises more than 3 percent to top $107 a barrel as Washington dismisses Tehran's proposal to end war.
