What happened
Oil prices have surged, with Brent crude oil reaching over $105 per barrel, amid reports that the US may soon launch an attack on Iran. This comes after the White House allegedly asked the Pentagon to develop strike options against Iranian targets, potentially ahead of the midterms in November.
President Donald Trump recently stated that he is not interested in a peace deal with Iran, which may have contributed to the increase in oil prices. Despite oil exports from the Middle East nearing pre-war levels, prices have remained high, with some experts attributing this to a risk premium due to the escalated attacks in the Strait of Hormuz.
The Yemeni Houthis have also claimed to have launched another attack on Saudi Arabia's main airport in Riyadh. The situation continues to escalate, with the potential for further military action and its impact on global oil prices.
