Global fuel prices are on the rise as the ongoing Israeli-Iranian conflict sends shockwaves through the oil market. Crude oil prices surged by 9% today—the sharpest single-day jump in five months—amid escalating tensions in the Middle East.
The price of Brent crude spiked by US$ 6.29, pushing it up to US$ 75.65 per barrel. This marks the highest value since January 27, when oil briefly touched US$ 78.50.
Market analysts warn that continued instability in the region could drive prices even higher in the coming days, potentially affecting fuel costs and inflation globally.
