Oil prices rallied on Monday after conflict between the United States and Iran intensified, raising fresh concerns over crude supplies from the Middle East as shipping through the Strait of Hormuz came under increasing pressure.

Oil prices climbed as renewed US-Iran attacks raised concerns over Strait of Hormuz and Red Sea supplies, pushing Brent above $85 a barrel.

Oil prices surge due to US-Iran tensions and Strait of Hormuz disruptions. Crude oil reaching a new all-time high by December 31 at 13.5% YES.

Oil prices climbed significantly on Monday as tensions rose. Brent crude futures surpassed ninety dollars a barrel, reaching recent highs. Attacks in the Middle East have…