Crude oil prices jump to 1-month high as US-Iran war escalates

Oil prices surged around 2% on Tuesday, 14 July, reaching their highest level in four weeks, over fears of supply disruptions amid fresh military tensions in West Asia. Brent Crude surged nearly 4% and crossed $86/barrel on July 14 for the first time since June 12. US West Texas Intermediate (WTI) crude also advanced nearly 3%, to cross $80/barrel.