The Economic Times

Why are oil prices up today, and will Brent and US WTI crude futures rise sharply or fall again? Global oil market reacts to US-Iran tensions. Here's analysts insights and market outlook

Why are oil prices up today, and will Brent and US WTI crude futures rise sharply or fall again? Oil prices jumped after the United States and Iran failed to reach a peace proposal and the Strait of Hormuz stayed restricted. Brent crude and US WTI futures climbed over 3%. Drone attacks, nuclear tensions, shipping risks, and supply fears are shaping the oil market outlook. Analysts now track diplomatic talks, military risks, and supply flows to predict future price direction.