Oil prices went up noticeably on Saturday, as rising tensions in the Middle East made investors worried about possible disruptions to energy supplies—especially through important shipping routes.
According to economic reports, Brent Crude closed at $112.57 per barrel. Prices have been moving up and down a lot in recent days, but overall, the trend is pointing higher.
Meanwhile, West Texas Intermediate reached $99.64 per barrel, showing strong demand and continued market pressure.
Iraq’s Basra Crude also stayed at high levels, settling at $101.25 per barrel. Heavy crude followed a similar pattern, coming in at around $99.15 per barrel.
In simple terms, the market is reacting to uncertainty. When there are fears about conflict or supply problems, oil prices usually rise—and that’s exactly what we’re seeing right now.
