Brent crude rose by $2.77, or 3.14%, to $90.87 per barrel, its highest level since June 11, international media report
DOHA: (UrduPoint/Pakistan Point News-July 20th, 2026) Global crude oil prices climbed to their highest level in more than a month on Monday, driven by escalating tensions between the United States and Iran, raising concerns over potential disruptions to energy supplies in the middle East.
According to international media reports, Brent crude rose by $2.77, or 3.14%, to $90.87 per barrel, its highest level since June 11. The benchmark had already gained 15.9% last week, marking its strongest weekly increase since April.
Meanwhile, U.S. West Texas Intermediate (WTI) crude advanced $2.35, or 2.85%, to $84.84 per barrel, the highest price recorded since June 12. WTI also posted a 15.5% weekly gain last week, its biggest weekly rise since early March.
The sharp increase in oil prices reflects growing fears that the ongoing conflict between Washington and Tehran could disrupt crude supplies from the region, a key source of global energy exports.
The impact of rising crude prices is also being felt in the United States, where retail gasoline prices have climbed above $4 per gallon. Reports indicate that fuel prices in the U.S. have surged by more than 30% since hostilities between the United States and Iran intensified.
Market analysts said investors remain concerned about the possibility of further escalation, as there are currently no clear signs of easing tensions. The latest developments follow fresh U.S. strikes against Iranian targets, while Iran has responded with attacks on U.S. assets in the region, fueling uncertainty in global energy markets.
The continued geopolitical tensions have heightened concerns over oil supply security, with traders closely monitoring developments in the Middle East for further market-moving events.
