Oil Prices Continue to Increase Amid Rising Tensions in the Middle East

  • International
  • 18 June 2025
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Oil prices continued their upward trend in trading on Wednesday, July 18, 2025, driven by escalating tensions in the Middle East. The ongoing aerial conflict between Iran and Israel has raised concerns about potential disruptions to crude oil supplies, particularly through the strategically vital Strait of Hormuz.

Brent crude futures rose by 0.4%, reaching $76.80 per barrel, while U.S. West Texas Intermediate (WTI) futures increased by around 0.5% to $75.23 per barrel.

This follows a more than 4% surge in oil prices at the close of Tuesday’s session, after U.S. President Donald Trump called on Tehran to offer an “unconditional surrender,” coinciding with the sixth day of the Iranian-Israeli conflict.

Source (CNBC Arabia Website, Edited)