Oil prices surged Thursday as markets reacted to rising tensions and worries about supply shortages.
Brent crude climbed to around $118 per barrel, while West Texas Intermediate (WTI) reached about $106, continuing strong gains from recent sessions.
Prices have risen more than 6%, driven by concerns over possible supply disruptions, lower global inventories, and ongoing tensions in the Middle East.
Analysts say if these geopolitical issues continue, oil could push past $120 per barrel, keeping markets on edge.
For now, traders are closely watching both political developments and supply data, as both are shaping where prices head next.