London, United Kingdom – Web Desk: Global oil prices surged sharply after Donald Trump was briefed on potential new military operations against Iran, triggering fresh volatility in energy and financial markets.
According to international reports, Brent crude oil rose by nearly 7% amid uncertainty surrounding the Iran conflict and tensions in the Strait of Hormuz. At one point during trading, oil prices briefly exceeded $126 per barrel before easing to around $114.
The spike marks the highest level in approximately four years, raising concerns over global inflation and economic stability.
Asian stock markets reacted negatively, with Japan’s Nikkei 225 falling 1.1% and South Korea’s KOSPI dropping 1.4%. In contrast, European markets showed resilience, as London’s FTSE 100 gained 1.6%, while Germany’s DAX rose 1% and France’s CAC 40 edged up 0.1%.
Analysts warn that sustained high fuel prices could drive up fertilizer costs, potentially leading to a rise in global food prices. If crude oil remains near $125 per barrel, it may significantly increase inflationary pressures and daily living costs worldwide.
The surge underscores the broader economic risks tied to geopolitical tensions and supply disruptions in critical energy corridors.
