Oil prices see largest two-day percentage gain in four months on U.S.-Iran fighting

Oil prices experienced their largest two-day percentage gain in four months, with West Texas Intermediate and Brent crude front-month contracts climbing. This surge is attributed to investor concerns over US-Iran fighting and geopolitical tensions in the Middle East. Such price increases could strain global economies, impacting worldwide energy policies and inflation. The market reaction reflects worries regarding further escalation, leading to significant gains for crude oil contracts as geopolitical instability persists across the region.