Ankara (Commerce Desk) – On Monday, oil prices surpassed $119 per barrel, marking the highest level since mid-2022. Concerns over supply shortages and prolonged shipping disruptions have caused turbulence in global energy markets, especially amid escalating tensions between the United States, Israel, and Iran.
According to news agency NZ citing Reuters, Brent crude futures rose by $13.02, nearly 14 percent, reaching $105.71 per barrel, while West Texas Intermediate (WTI) crude prices increased by $12.16, or 13 percent, to $103.06 per barrel.
During a volatile trading session, Brent briefly hit an intraday high of $119.50 per barrel—the largest single-day increase—while WTI temporarily touched $119.48. In the previous week, Brent had already surged 28 percent and WTI 36 percent.
