Global oil prices have climbed sharply, with Brent crude crossing $90 per barrel for the first time in two years after former U.S. President Donald Trump said there would be “no deal with Iran” and urged the country to “surrender.”
During early trading, Brent crude increased by $5.50 (about 6.5%) to reach $90.91 per barrel. Meanwhile, U.S. West Texas Intermediate (WTI) rose by nearly 9.7% to $88.8 per barrel. Murban crude also jumped by 6.45% to $100.6 per barrel.
Analysts say oil prices are rising due to growing tensions in the Middle East, which have raised concerns about possible disruptions to global energy supply routes. At the same time, some major Asian oil-processing countries have decided to reduce production, adding further pressure to the market.
Market trends suggest that both Brent and WTI prices could continue rising, with some analysts predicting oil could soon reach around $95 per barrel.
Experts also note that energy markets often react quickly to logistics issues such as tanker costs, shipping risks, and insurance premiums, especially when tensions rise in important oil-producing regions like the Gulf. If disruptions continue, oil prices could remain high in the coming weeks.
