Middle East tensions lift oil prices as US-Iran hostilities escalate

Escalating hostilities between the US and Iran have driven oil prices upward, with crude oil projected to reach new all-time highs by September 30 and December 31. As both nations trade deadly attacks for a second consecutive week, the UN is calling for urgent de-escalation. These ongoing strikes have resulted in severe devastation to critical infrastructure and civilians across the Middle East, while simultaneously impacting global energy markets through increased price volatility.