Oil Prices Surge as Israel-Iran Conflict Rattles Markets

Crude oil prices climbed sharply last week as the conflict between Israel and Iran worsened, raising fears that global oil supplies could be affected. The situation quickly became one of the most closely watched issues in the oil market, pushing prices to their highest levels since January. West Texas Intermediate (WTI) and Brent crude both rose nearly 7% over the week, as investors responded to the growing threat of disruptions in the Middle East. The jump in prices came after Israel launched airstrikes on Iranian military and nuclear targets.…