Oil prices have seen significant increases in early trading in the United States, surpassing the threshold of $110 per barrel, as global markets continue to be affected by the prolonged conflict in the Middle East.
Contracts for U.S. West Texas Intermediate (WTI) crude for May delivery rose by 1.86%, reaching $113.62 per barrel.
Meanwhile, Brent crude, the main international benchmark, increased by 1.16%, quoted at $110.30 per barrel.
The price rise reflects market concerns over global energy supply, at a time when geopolitical tensions and the risk of disruptions in major oil corridors continue to keep uncertainty high in international markets.