ISLAMABAD: Global oil prices have surged past $100 per barrel as rising tensions and ongoing war in the Middle East disrupt energy markets and threaten key supply routes.
According to international news agencies, crude oil prices jumped significantly after concerns grew over the situation around the Strait of Hormuz, one of the world’s most important oil transit chokepoints.
Reports suggest that the United States has so far been unable to fully secure or reopen safe passage in the area, raising fears of supply disruptions.
The price of Brent Crude increased by about 17%, reaching approximately $108 per barrel. Meanwhile, West Texas Intermediate also surged by nearly 19%, climbing to around $108 per barrel.
Energy analysts warn that if the war in the Middle East continues or intensifies, oil prices could climb even higher—potentially reaching $120 per barrel or more in the coming weeks.
The rising oil prices are expected to have significant economic consequences worldwide, including higher fuel costs, increased inflation, and pressure on global supply chains, particularly for countries heavily dependent on imported energy.
