Oil prices rose after the United States launched new military strikes on Iran. Investors are concerned that increasing tensions in the Middle East could disrupt global oil supplies, especially if shipping through the Strait of Hormuz is affected.

According to recent reports, Brent crude oil climbed to around $95 per barrel, while U.S. West Texas Intermediate (WTI) crude rose above $92 per barrel.

Experts say that whenever military conflict escalates in the Middle East, oil markets react quickly because a large portion of the world's oil supply passes through the region.