Oil prices surge as US orders evacuation amid rising Middle East tensions

Oil prices surged on June 11 as rising tensions in the Middle East sparked fears of potential U.S.-Iran military conflict.

Oil prices surged sharply on Wednesday after the U.S. Department of Defense authorized the departure of military dependents from the Middle East. Brent crude jumped 5%, reaching $70 per barrel, while West Texas Intermediate also hit its highest level since April.

The price climb came as U.S. defense officials expressed concern over potential regional escalation—particularly...