UK oil prices hit $95 per barrel amid US-Iran tensions, Houthi threats

UK oil prices reached a new all-time high of $95 per barrel by December 31, driven by US-Iran tensions and Houthi threats. Crude oil prices spiked up to 4 percent following statements from US Secretary of State Marco Rubio, who asserted that Iran is not serious about peace talks. This surge reflects the impact of fresh Middle East escalation on the global energy market, pushing Brent crude to these record levels amid ongoing geopolitical instability.