Oil Prices Climb as Geopolitical Unrest Continues

The ongoing conflicts in the Middle East and Ukraine show no signs of resolution, leading to a noticeable impact on global oil markets. Investors and analysts are closely monitoring the situation, as the uncertainty drives prices upward.

Market Reaction to Global Unrest

By early Thursday, West Texas Intermediate (WTI) for June's settlements had seen a 1.30% increase, reaching $63.09 per barrel. Similarly, Brent crude for the same month's deliveries experienced a 1.10% rise, trading at $66.85 per barrel. These movements underscore the sensitivity of oil markets to geopolitical tensions.