Browsing: oIL

Oil prices surged on Thursday, with Brent crude approaching $100 a barrel following reports of an attack on two oil tankers near Iraq’s Basra port, raising concerns about potential supply disruptions in the Middle East.

Oil prices briefly surpassed $120 per barrel on Monday as tensions between the U.S. and Iran kept the global commodity market on edge. Supply concerns intensified sharply after Iran blocked a critical shipping channel.