London, United Kingdom – Web Desk: Oil prices surged to multi-month highs on Friday as escalating US-Iran military tensions raised fears over supply disruptions through the critical Strait of Hormuz .
Price Surge
Brent crude rose by $3.10 (3.7%) to $87.33 per barrel, while US West Texas Intermediate (WTI) climbed $3.16 (4%) to $83.18 per barrel . Both benchmarks are on track for their third consecutive weekly gain .
$100 Oil Warning
Analysts warn that if the conflict prolongs, crude prices could exceed $100 per barrel, driving up petrol and diesel costs, transport and freight expenses, and further fueling inflation—particularly in oil-importing countries like Pakistan .
Supply Disruption Fears
Investors remain concerned that if tensions escalate further or oil shipments through the Strait of Hormuz are disrupted, global supply could be constrained, pushing prices even higher .
