Global crude oil prices have continued to rise despite the announcement of releasing strategic oil reserves, and the prices have not declined in international markets.
In the global market, crude oil prices recorded an increase of around 10 percent. The price of British crude oil rose by $9.29 to reach $101.3 per barrel, while US crude oil increased by $9.02 to reach $96.27 per barrel.
According to the International Energy Agency, rising tensions among the United States, Israel, and Iran are creating major supply disruptions in the global oil market, contributing to continued volatility and price increases.
It is worth noting that after oil prices surged due to the Iran war, the International Energy Agency announced the release of 400 million barrels of oil in an attempt to stabilize global supply.
However, despite this announcement, crude oil prices in the international market continued to increase, indicating ongoing uncertainty in the global energy market.
