Experts Warn Oil Could Reach 120 Dollars Per Barrel

Global crude oil prices have reached their highest levels due to rising tensions in the Middle East.

Middle East Tensions Push Global Oil Prices To Record High

According to reports, the ongoing conflict in the region and the United States’ failure to reopen the Strait of Hormuz have pushed international crude prices above 100 dollars per barrel.

Brent And US Crude Prices Surge Over 17 Percent

Brent crude rose nearly 17 percent to 108 dollars per barrel, while U.S. crude increased approximately 19 percent, also reaching 108 dollars per barrel.

Read Also ; Defence Minister Asif Says Afghanistan Always Supported Terrorism

Middle East Conflict Disrupts Global Energy Markets Significantly

Analysts warned that if the conflict in the Middle East continues, oil prices could climb to 120 dollars per barrel.