With the escalation of attacks on ships, oil prices continue to gain

Oil prices continued to rise today, Monday, with mounting fears of a long-term disruption to Middle East supplies due to mutual attacks between the United States and Iran on ships in the Strait of Hormuz and other areas.

Brent crude futures rose 77 cents, or 0.80%, to $97.05 per barrel by 04:12 GMT, while US West Texas Intermediate crude rose 79 cents, or 0.86%, to $92.27 per barrel.

Brent crude rose 7.8% last week, while US West Texas Intermediate crude gained about 10%, after the United States and Iran resumed their attacks, which led to a decrease in oil flows through the Strait of Hormuz, through which a fifth of global oil supplies passed before the war.