Military escalation between the United States, Israel, and Iran has driven oil prices to their highest levels since early 2025, with Brent crude near $84 per barrel.
The ongoing military escalation involving the United States, Israel, and Iran has significantly impacted international oil prices, pushing Brent crude oil to about $84 per barrel, a price not seen since early 2025. This surge follows a 12% increase over two days, with previous trading sessions witnessing a notable gain of 4.7%. The West Texas Intermediate (WTI) benchmark also reflected this upward trajectory, closing at $74.56 with an identical percentage increase.
The spike in oil prices is largely attributed to rising fears surrounding potential disruptions in the flow of oil through the Strait of Hormuz, a critical chokepoint responsible for approximately one-fifth of the global oil trade. The Iranian Revolutionary Guard has declared that they maintain
