Oil prices surged sharply during Monday trading to move above $115 per barrel driven by growing concerns over global supply disruptions as geopolitical tensions in the Middle East continue to escalate increasing uncertainty across markets
Markets largely ignored any positive signals related to diplomatic efforts with investors focusing on supply risks especially as tensions persist between regional and global powers indicating limited chances of de escalation in the near term
In this context Brent crude futures rose about 2.7 percent to reach $115.55 per barrel after touching higher levels during the session while West Texas Intermediate futures climbed 1.8 percent to $101.41 per barrel supported by risk driven buying momentum
These movements reflect rising market concerns over a potential expansion of tensions and their impact on key shipping routes especially with fears surrounding disruptions to oil flows through strategic chokepoints that represent vital arteries for global supply supporting elevated price levels in the near term
This surge also comes at a time when the oil market is already under strong pressure as prices recorded significant gains during March supported by tighter supply conditions and an increasing risk premium reinforcing expectations of continued volatility in energy markets
Despite ongoing discussions about possible agreements that could help ease tensions the absence of a clear timeline for any deal keeps markets on edge with geopolitical risks remaining the primary driver of price direction in the short term
Stay informed about global markets through our previous analyses. and Now, you can also benefit from LDN company services via the LDN Global Markets trading platform.
