Oil prices rise amid US-Iran tensions

Global crude oil prices have risen significantly following an escalation of military tensions between the US and Iran and the resumption of attacks between the two countries.

Accordingly, as of 7.00 a.m. today (July 15), the price of WTI crude oil had increased to USD 80.01 per barrel, marking a rise of 0.84%.

The US West Texas Intermediate (WTI) crude benchmark also reached a one-month high of around USD 80 per barrel, around 18% above the lowest level recorded in early July.

Meanwhile, Brent crude oil prices increased to USD 85.63 per barrel, reflecting a rise of 1.06%.

The price of UAE Murban crude oil stood at USD 81.93 per barrel, recording an increase of 4.85%.

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