Washington(The COW News Digital)Global oil prices have surged to their highest level in two years as escalating tensions in the Middle East continue to disrupt energy markets and raise concerns about global supply routes.
According to international market reports, crude oil prices climbed sharply following ongoing conflict in the region and growing difficulties faced by the United States in ensuring safe passage through the strategic Strait of Hormuz, one of the world’s most important oil shipping routes.
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The benchmark Brent crude oil price rose above $93 per barrel, marking its highest level in nearly two years. Meanwhile, West Texas Intermediate (WTI), the main U.S. crude benchmark, climbed to around $88 per barrel in international trading.
Analysts say the spike reflects growing fears that the ongoing conflict could disrupt energy production or transport from key oil-producing countries in the Gulf region
