Oil prices surge as geopolitical tensions tighten global supply

TDT | Manama

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Global oil prices have climbed to multi-week highs as geopolitical tensions and supply disruptions fuel concerns over tighter crude markets.

Brent crude is trading around $91.60 a barrel, while WTI is near $85.67. Market volatility has been driven by uncertainty surrounding shipping through the Strait of Hormuz, regional tensions, and declining crude exports from major producers.

Concerns are also growing over falling global diesel and distillate inventories, which could push fuel prices higher and add to inflationary pressures.

Traders are closely watching US crude inventory data and Federal Reserve signals for clues on whether oil prices will continue rising or face a pullback.