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Oil Prices Surge as Middle East Attacks Resume

New York Times Business •
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Global oil prices jumped sharply on Monday as renewed attacks in the Middle East shattered a days-long lull in direct conflict, reigniting fears over the security of energy supplies from the region.

After several days of relative calm, a flare-up in tensions left investors deeply concerned about the continued flow of crude through critical chokepoints. Benchmark Brent crude rose more than 3% in early trading, while West Texas Intermediate posted similar gains, reflecting the market's sensitivity to any disruption in the Persian Gulf.

Analysts noted that the price spike underscores how fragile the current equilibrium remains. With spare production capacity limited and geopolitical risk premiums rising, even brief escalations can trigger outsized market moves. The latest violence adds to a series of supply-side shocks that have kept energy markets on edge throughout the year.