Global Oil Prices Surge Amid Escalating US-Iran Tensions

Kathmandu. Oil prices saw a sharp increase on Monday as concerns over crude oil supply intensified due to the ongoing conflict between the US-Israel and Iran in West Asia. The disruption in major oil-producing regions and the threat of potential military action pushed both Brent Crude and West Texas Intermediate prices higher.In Monday morning trading, Brent Crude futures rose by $1.71, or 1.6 percent, to $110.74 per barrel. Similarly, US crude oil prices increased by $0.71, trading at $112.25 per barrel. Market volatility spiked after US President Donald Trump threatened to strike Iranian power plants and bridges on Easter Sunday. Trump...