Oil Prices Jump To Five-Month High, Brent Crude Hits $114, Highest Since May (AI Generated Image)
\n\nCrude oil prices jumped 4 percent, with Brent crude touching 114 dollars per barrel, its highest level since May 2026. The surge came amid renewed concerns over potential oil supply disruptions in the Middle East, raising fears of further volatility in global energy markets and the impact that could have on input costs and overall inflation as well.
\n\nGlobal oil expert and CEO-Australia, Trading.com & Chief Strategist Asia-Pacific XM.com, Peter McGuire told Times Now Digital, "energy markets react with fear of attacks by Iran on Gulf-based AI data centres and critical infrastructure including undersea cables. Crude oil rates jumped 4 percent overnight to a 5-month high."
\n\nTensions have flared across West Asia after US Media reported that US and Israel are contemplating fresh strikes on Iran even as the US Midterm elections get underway. In a significant sign of the fast-paced developments Iran's Supreme Leader Ayatollah Sayyid Mojtaba Hosseini Khamenei met with the Iranian Parliament speaker Mohammad Baqer Ghalibaf on Wednesday. However, US President Donald Trump had also earlier said that the war with Iran could end soon, predicting a sharp fall in global…
Original source: https://www.timesnownews.com/business-economy
