Washington, April 30 (SANA) Oil prices climbed on Thursday, supported by growing concerns over a potential military escalation in the Middle East that could affect global energy supply, according to market data.
Brent crude futures rose about 4.8% to $123.71 per barrel after briefly exceeding $126 earlier in the session, marking their highest level since March 2022, CNBC reported. U.S. West Texas Intermediate crude gained 2.8% to $109.90 per barrel. Both benchmarks are on track to post a fourth consecutive month of gains.
Market sentiment was influenced by reports that Washington is assessing potential military options related to Iran amid stalled negotiations, raising concerns about further disruption in a region central to global oil flows.
On the supply side, sources told Reuters that the OPEC+ alliance is expected to consider a modest increase in output of around 188,000 barrels per day at its upcoming meeting.
Separately, U.S. President Donald Trump is scheduled to receive a briefing later Thursday from CENTCOM Commander Admiral Brad Cooper on potential military scenarios involving Iran, adding to uncertainty in energy markets.
R.H/R.K
