Oil Prices Surge Amid Middle East Tensions | Dubai News
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Oil Prices Surge Amid Middle East Tensions | Dubai News
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Oil prices surged over $3 a barrel as Middle East tensions spiked, fueled by U.S. and Saudi strikes in Iraq, intercepted Iranian missiles, and shrinking U.S. crude inventories. Brent crude hit $87.39, WTI rose to $82.31 — driven by U.S. claims of intercepting a surprise Iranian missile attack and Saudi reports of drone strikes on oil infrastructure. Joint U.S.-Saudi operations targeted Iranian-backed groups, raising fears of prolonged regional instability. OPEC+ may also pause output hikes in October, adding further upward pressure as inventory data looms.
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