Oil nears $97 as US-Iran tensions escalate over airstrikes

The United States conducted airstrikes against targets in Iran overnight, prompting a response from Tehran. The exchange marks the most serious escalation in US-Iran tensions in recent weeks.

Crude oil prices have risen sharply in response to the heightened geopolitical conflict, approaching $97 per barrel. Markets are watching closely to see if prices will breach the $100 mark amid ongoing regional instability.