Oil prices climb amid Middle East supply disruption fears

Oil prices rose again on Monday, driven by ongoing concerns over prolonged supply disruptions in the Middle East following renewed clashes between the United States and Iran targeting vessels in the Strait of Hormuz and other areas.

According to market data, Brent crude futures increased by 52 cents, or 0.54 percent, to reach $96.80 per barrel.

US West Texas Intermediate crude futures also gained 66 cents, or 0.72 percent, to $92.14 per barrel.

Analysts noted that persistent geopolitical tensions in the Gulf region continue to exert upward pressure on prices, as markets await any developments that could impact shipping routes and global energy supplies.