Oil Prices Surge 7% as Middle East Tensions Push Brent Crude to $90

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Oil prices climbed more than seven percent on Wednesday as fresh military activity in the Middle East intensified supply fears. US strikes against Iran-backed groups reignited concerns over potential disruptions to global oil flows. Shipping routes through the Strait of Hormuz and Bab el-Mandeb faced continued interference, adding pressure to markets. A reported decline in US crude stockpiles further fueled the price rally. Analysts anticipate prices will stay volatile in the short term given the persisting regional conflict.

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