BAKU, Azerbaijan, July 14, Oil prices continued to rise following new US strikes against Iran, with growing concerns over the stability of the already fragile truce between Washington and Tehran and the potential impact on global inflation.
Brent crude futures climbed 5 percent to reach $87.49 per barrel, marking the highest level since June 12, although prices remain below the peak recorded after the conflict began.
The increase follows a sharp rise on Monday, when oil prices surged by more than 9 percent as markets reacted to renewed geopolitical risks.
Analysts said investors are increasingly concerned that further military escalation could disrupt energy supplies, particularly through strategic routes such as the Strait of Hormuz.
The latest jump in crude prices has renewed fears that higher energy costs could contribute to another wave of inflation and complicate monetary policy decisions by central banks around the world.
