Global crude oil prices have surged to their highest levels after tensions and conflict in the Middle East intensified, pushing the price per barrel above 100 dollars.
According to reports, the ongoing conflict in the region and uncertainty surrounding the Strait of Hormuz have placed heavy pressure on global energy markets, leading to a sharp rise in oil prices.
Data shows that Brent crude increased by about 23 percent to reach 114.36 dollars per barrel, while US crude rose by 27 percent to 115.11 dollars per barrel.
Energy analysts warn that if the conflict in the Middle East continues and energy supply routes remain disrupted, oil prices could climb further to around 120 dollars per barrel.
