Oil prices open higher amid ongoing West Asia supply disruptions

Oil prices moved higher on Monday following the Easter holiday weekend, as the ongoing US-Israel conflict with Iran continued to strain global crude supply and fuel market uncertainty.According to information,Brent crude futures rose $2.4, or 2.2%, to $111.43 a barrel by 2215 GMT. US West Texas Intermediate (WTI) crude futures gained $3, or 2.7%, to trade at $114.57 per barrel.
The upward momentum in oil prices comes amid escalating geopolitical tensions in West Asia, where continued hostilities have raised concerns over potential disruptions to key supply routes and production infrastructure.US President Donald Trump on Sunday intensified pressure on Iran, warning in a strongly worded Easter message on social media that the United States could target Iran’s power plants and bridges as early as Tuesday if the strategic Strait of Hormuz is not reopened.
The Strait of Hormuz remains a critical artery for global oil shipments, and any disruption in the passage has the potential to significantly impact international energy markets.Market participants are closely monitoring further developments in the region, with analysts warning that prolonged conflict could sustain upward pressure on crude prices and heighten volatility across global commodities.

(Business Correspondent)