Global Crude Oil Prices Surge Amidst Geopolitical Tensions

Kathmandu. Crude oil prices have risen sharply in the global market. Concerns that energy supply could be affected for a long time due to the war with Iran and rising tensions in the Gulf region have caused oil prices to surge.

On Thursday, Brent crude briefly exceeded $108 per barrel at the ICE Exchange's Comex division in London. This is the first time Brent prices have reached this level since May. By the end of the day's trading, Brent crude had risen 6.3 percent to $107.63 per barrel.