Oil Prices Surge to Monthly Highs Amid Escalating US-Iran Tensions

Global oil prices climbed to their highest levels in more than a month on Wednesday as escalating military tensions between the United States and Iran raised acute fears of disruptions to critical energy supply routes. Brent crude futures, the international benchmark for North Sea oil, jumped 3.2 percent to trade above $86 per barrel by mid-morning trading sessions. West Texas Intermediate (WTI), the primary gauge for U.S. light sweet crude, followed suit with a gain of nearly 3 percent, pushing prices past $79.