Oil prices continue to rise after US attack on Iran’s Larak

Oil prices surged by over 2.5 percent following an attack by the United States on Iran’s Larak Island, located in the strategic Strait of Hormuz. In response, Tehran retaliated, escalating the ongoing conflict between the two nations into its sixth month.

Brent crude futures experienced a rise of $2.21, equivalent to a 2.51 percent increase, reaching $90.31 per barrel as of 04:36 GMT. Meanwhile, US West Texas Intermediate crude saw its price ascend to $85.23, marking an increase of $1.83 or 2.19 percent, as reported by Al Jazeera.