Global oil prices have risen sharply, with Brent Crude Oil climbing above 90 dollars per barrel for the first time in about two years. The increase came after strong political statements and rising tensions related to Iran.
During early trading, Brent crude jumped by about 6.5 percent, reaching around 90.91 dollars per barrel. Another key benchmark, West Texas Intermediate, also recorded a sharp increase and rose to about 88.80 dollars per barrel. In the Middle East market, Murban Crude crossed the 100 dollar level after a similar surge.
The rise in prices followed remarks by Donald Trump, who said there would be no agreement with Iran and called on the country to surrender. His statement added to existing geopolitical tensions and increased concerns in global energy markets.
Another factor behind the price jump is reduced oil production in several Asian oil producing countries. Production cuts usually tighten supply in the global market, which pushes prices higher when demand remains strong.
Energy analysts say markets are reacting quickly to political developments because oil supply routes in the Middle East are very important for global trade. Any uncertainty in the region can affect shipments and raise prices.
Experts now expect Brent and WTI oil prices to move closer to 95 dollars per barrel in the coming days if tensions continue and supply remains limited in international markets.
