Rising oil prices are being driven by a combination of peak summer travel demand and ongoing supply chain disruptions linked to the conflict in the Middle East, according to market analysts. The surge in fuel costs comes as global energy markets remain volatile, with refineries and shipping routes facing instability in the region. Experts warn that the dual pressures of increased holiday travel and geopolitical tensions could keep prices elevated for the foreseeable future. Consumers and industries alike may feel the financial impact as fuel expenses climb further.
Summer holidays and disruption to global oil supplies by the Middle East conflict stoked price growth.
