Dhaka, June 23 (V7N) — Global oil prices have surged to their highest levels in five months following the joint military attacks by Israel and the United States on Iran. The escalating conflict has sparked fears of major disruptions in the global oil supply chain.

According to a report by Reuters on Monday (June 23), the Brent crude oil price, the international benchmark, soared to $78.93 per barrel, marking a $1.92 increase from the previous day. Similarly, West Texas Intermediate (WTI), the US benchmark, rose to $75.73, up $1.89.

Market analysts attribute the surge to heightened concerns about oil supply disruptions amid the Iran-US-Israel tensions. The Strait of Hormuz, a key maritime route through which a significant portion of the world’s oil passes, has become increasingly volatile. Reports indicate that at least two oil tankers have already been diverted from the route due to security concerns.

With tensions showing no immediate signs of easing, experts warn that global energy markets may face continued uncertainty in the coming weeks.

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