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Global oil prices rise amid ongoing geopolitical tensions

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Global oil prices rise amid ongoing geopolitical tensions
Global oil prices rise amid ongoing geopolitical tensions

Oil prices jumped on Monday as global tensions and supply worries continued to shake the market.

Brent crude traded between about $108 and $111 per barrel, while US West Texas Intermediate (WTI) moved above the $100 mark.

This comes after a few days of ups and downs, with prices recently hovering between $105 and $108, following strong gains late last week.

What’s pushing prices higher? Ongoing tensions in the Middle East are a big reason—especially concerns about oil moving through key shipping routes. There are also worries that global supply might not keep up with demand.

Experts say these factors are likely to keep prices elevated for now. Demand for energy is rising, and the market is still unstable.

Overall, oil prices have been moving sharply since the start of the year, driven by political and economic changes around the world.