Oil Prices Rise 4.5% to $94.52 After U.S. Strikes on Iran

Following U.S. military strikes against Iran, oil prices increased significantly. Brent crude rose 4.5% to $94.52 per barrel, while U.S. West Texas Intermediate futures gained about 5% to reach $90.03 per barrel. This marked the highest prices since July 24. U.S. Central Command confirmed strikes targeted Iranian air defense and communication sites after recent attempted attacks on commercial shipping in the Strait of Hormuz. These developments may impact energy markets as tensions continue to rise in the region.