Oil prices rise on Iran supply worries

Oil prices rose today, Thursday, amid concerns that the deadlock in the Israel-U.S. conflict with Iran could continue, potentially disrupting oil supplies from the Middle East and increasing global supply shortages. Brent crude for October delivery increased by 0.38% to $91.97 per barrel, while West Texas Intermediate (WTI) rose by 0.45% to $84.77. This marks the fifth consecutive session of gains. The increases are attributed to escalating regional tensions, ongoing uncertainty regarding peace negotiations, as well as deteriorating relations between the UAE and Iran and the spreading conflict in the region—all of which could impact oil flows through the Strait of Hormuz.

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