Muscat: Oil prices climbed more than $1 in early trading today as the Middle East conflict widened, heightening concerns over supply disruptions. Brent crude futures rose $1.57, or 1.6 percent, to $99.49 a barrel, while US West Texas Intermediate crude gained $1.60, or 1.72 percent, to $94.63 a barrel.
According to Oman News Agency, Brent has surged about 25 percent since early August, as hopes for a lasting resolution to the six-month-old war have faded and hostilities have reignited. The recent escalation in the Middle East has raised alarms in the global oil market, with many fearing severe disruptions in supply, which could further inflate prices. This increase marks a significant shift, reflecting the market's sensitivity to geopolitical tensions in a region critical to the world's energy supply.