Global Oil Prices Rise as Tensions Escalate in Iran

Global oil prices rose on Tuesday as growing concerns surrounding Iran and the possibility of supply disruptions outweighed prospects of increased crude supplies from Venezuela.اضافة اعلان

Brent crude futures climbed 0.4% to $64.15 per barrel, hovering near a two-month high recorded in the previous session.

U.S. West Texas Intermediate (WTI) crude futures rose 0.5% to $59.78 per barrel, marking their highest level since December 8, 2025, reached earlier in the session.

Barclays said in a note: “The unrest in Iran has added about $3–4 per barrel as a geopolitical risk premium to oil prices, in our view.”

Markets are also watching the potential release of additional crude oil supplies from Venezuela.

— Reuters