Global oil prices continued their upward trend, with both Brent and US crude reaching new levels amid growing geopolitical concerns.

According to international media reports, Brent crude recorded an increase of 0.39 percent, taking its price to $96.29 per barrel. Similarly, US West Texas Intermediate (WTI) crude rose by 0.30 percent to reach $98.16 per barrel.

Economic experts say the recent surge in oil prices is largely driven by escalating tensions in the Middle East. Concerns are mounting that worsening conditions in the region could disrupt oil supply routes, particularly through the strategically vital Strait of Hormuz.

Analysts warn that any disruption in this key shipping route could trigger a supply crisis in global markets, leading to further increases in oil prices. The situation is being closely monitored by investors and policymakers worldwide due to its potential impact on inflation and energy costs.

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Despite rising oil prices, Asian stock markets showed a positive trend at the start of trading today. Major indices across the region opened in the green, reflecting renewed investor confidence.

Tokyo’s Nikkei index gained 0.7 percent, while South Korea’s Kospi index rose by 0.6 percent. Chinese markets also saw modest growth, with the Shanghai Composite and Hong Kong’s Hang Seng index both increasing by 0.2 percent.

In India, the stock market also performed well, with the Sensex rising 0.8 percent and the Nifty Fifty index gaining 0.5 percent.

Experts believe this positive momentum in Asian markets indicates growing global investor interest despite ongoing geopolitical uncertainties.