July 13, 2026 2:42 PM
Crude oil prices jump over 4 pc as US-Iran tensions escalate
Global crude oil prices surged more than 4 per cent on Monday, trading close to the $80-per-barrel mark, as renewed military strikes between the United States and Iran heightened concerns over possible disruptions to oil supplies from the Middle East. International benchmark Brent crude gained more than 4 per cent, rising $3.28 to nearly $80 per barrel. US benchmark West Texas Intermediate (WTI) also climbed 4.55 per cent, or $3.25, to $74.66 per barrel. The sharp rise in prices followed repor...