Brent Crude Oil Surpasses $115 as Iranian Conflict Escalates

AI Summary

Brent crude oil prices rose by more than 3% to exceed $115 per barrel, while US-traded oil reached $103 after a 3.5% increase. Asian stock markets fell sharply, with Japan's Nikkei 225 down 4.5% and South Korea's Kospi down 4%. Oil prices have shown significant volatility due to threats related to the conflict involving Iran, impacting global supply chains. Analysts predict Brent could reach $130 in the coming weeks due to ongoing threats against energy supplies.