Global oil markets witnessed a fresh surge as crude prices moved upward, raising concerns about further economic pressure worldwide. The increase comes at a time when geopolitical tensions are also intensifying, adding uncertainty to energy markets.

According to international media reports, US crude oil prices rose by 3.40 percent, reaching 106 dollars per barrel. Meanwhile, Brent crude saw a smaller increase of 0.19 percent, climbing to 112 dollars per barrel. Analysts believe that the upward trend reflects supply concerns and ongoing instability in key regions.

Experts warn that rising oil prices could impact fuel costs globally, potentially leading to higher transportation and production expenses. This, in turn, may contribute to inflation in many countries, including developing economies already facing financial strain.

In a related development, Iran’s Islamic Revolutionary Guard Corps claimed it carried out attacks targeting multiple US military installations in the region. According to the statement, missile and drone strikes were launched against five American bases, including command and control centers and drone facilities.

Also Read: Power tariff hike sparks Rs164 shock nationwide

The claim also stated that personnel from the United States and Israel present at various locations were targeted during the operation. However, there has been no immediate independent confirmation of these claims from US or Israeli officials.

The situation continues to evolve, with markets and global observers closely monitoring both oil price movements and geopolitical developments.