Global oil prices surged sharply on Monday as escalating tensions in the Middle East raised concerns about prolonged disruptions to global crude supply.
The main U.S. benchmark, West Texas Intermediate (WTI), jumped more than 30 percent in early trading, briefly crossing $118 per barrel before easing slightly. At around 02:30 GMT, WTI was trading near $118.21 per barrel. Meanwhile, Brent crude also rallied sharply, rising about 27.5 percent to around $118.22 per barrel.
The sharp move reflects growing fears that the widening conflict in the Middle East could disrupt production and supply routes from one of the world’s most important oil-producing regions.
Geopolitical developments further intensified market concerns after Iran named Mojtaba Khamenei as the successor to Supreme Leader Ali Khamenei. The announcement signals that hardline leadership continues to remain firmly in control in Tehran amid the ongoing conflict involving Israel and the United States.
Military tensions have also expanded beyond Iran, with Israel reportedly targeting Iranian commanders in Lebanon’s capital, Beirut. The strikes come after several days of escalating attacks that have resulted in significant casualties.
Oil prices had already been rising before the latest spike. Last week, Brent crude climbed around 27 percent while WTI recorded gains of nearly 35.6 percent, reflecting increasing geopolitical risk in global energy markets.
The surge in crude prices is also being closely watched by financial markets, as sustained increases in oil prices could add to global inflation pressures and increase volatility across equity markets.
Disclaimer: The information provided in our blogs is for informational purposes only and should not be construed as financial, investment, or trading advice. Trading and investing in the securities market carries risk. Always conduct your own research and consult with a qualified financial advisor before making any investment decisions. Past performance is not indicative of future results. Copyrighted and original content for your trading and investing needs.
© 2026 — Tradejini. All Rights Reserved.
