Global oil prices climb sharply, with Brent crude trading near $87 per barrel, its highest level since spring 2024. The rally reflects tightening supply expectations and heightened geopolitical risk affecting energy markets.
In the United States, West Texas Intermediate crude rises above $80 per barrel for the first time in 13 months. The move underscores strengthening demand and growing concerns about potential disruptions to global oil flows.
Since December, oil prices have surged roughly 45%, marking one of the strongest rallies in recent years. Analysts say the rapid climb highlights energy markets’ sensitivity to geopolitical tensions and shifting supply dynamics across major producing regions.