Global oil prices surged by more than 2% in early trading on Monday as growing security tensions in the Middle East raised fresh concerns about the stability of global energy supplies.
The rise came after Israel’s military incursion into southern Lebanon, a development that increased fears of a wider regional conflict and its potential impact on oil production and transportation routes.
Brent crude oil jumped by $2.16, or 2.37%, reaching $93.28 per barrel. Meanwhile, West Texas Intermediate (WTI) crude gained $2.37, or 2.71%, to trade at $89.73 per barrel.
The sharp increase reflects market concerns that any escalation of tensions in the region could disrupt energy supplies from one of the world’s most important oil-producing areas. Traders are closely monitoring developments, as further instability could place additional upward pressure on oil prices in the coming days.
The latest gains highlight how geopolitical events in the Middle East continue to play a major role in shaping global energy markets and influencing investor sentiment.
