Business

Oil Prices Surge by More Than $3

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Muscat: Oil prices surged by more than three dollars at the opening of trading today. Futures for Brent crude climbed $3.62, or 3.46 percent, to reach $108.23 per barrel, while West Texas Intermediate crude futures rose by 3.15 percent, equivalent to $3.15, to register $103.20 per barrel.

According to Oman News Agency, the rally comes amid escalating geopolitical tensions in the Middle East, which have stoked fears of disruption to global oil supplies, particularly in the wake of attacks targeting oil facilities.

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