Oil prices continue to rise over escalating Israel-Iran conflict

Brent crude prices have risen by almost 5% amid fears that the hostilities could disrupt a key shipping route

Global oil prices jumped by almost 5% amid the continued military escalation between Israel and Iran, and US President Donald Trump’s belligerent demand for an unconditional and immediate surrender from Tehran.

Brent crude oil prices increased by 4.4% to reach $76.45 per barrel on Tuesday, and by over 10% since Israel launched its first missiles against Iran last week.