Global oil prices vaulted over $95 a barrel, according to verified data, marking the first time in six weeks the benchmark has crossed that threshold.
Oil prices surged 4% to their highest since mid-September, as war threats intensified.
The sharp increase was driven by rising war threats, with multiple factors cited. Renewed US-Iran aggression over the Strait of Hormuz was reported as a key contributor, along with Houthi threats to target vessels carrying Saudi oil through the Bab el-Mandeb strait.
According to reports, oil prices jumped 4% in the session.
Iran is not serious about peace talks.
The comments came amid heightened tensions in the Middle East, with different sources pointing to various aspects of the conflict. Some attributed the price rise to the US-Iran standoff, while others highlighted Houthi threats to Red Sea shipping.
