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lobal oil prices remained above $100 a barrel as tensions in the Middle East raised concerns over energy supplies, while investors watched developments that could affect the global economy.
Mariyam Adheela
Global oil prices remained high on Monday, with Brent crude trading at around $104 a barrel as investors assessed the impact of the Middle East conflict on energy supplies.
Ongoing tensions in the region have raised concerns about possible disruptions to oil shipments. The Gulf is a major route for global energy trade, making any threat to shipping a concern for oil-importing countries.
Investors are closely monitoring developments in the Middle East as uncertainty continues to affect financial markets. Changes in oil prices can influence transport costs, inflation and the prices of goods worldwide.
Markets are also watching upcoming US inflation figures for signs of how the economy is performing. The data could influence expectations about interest rates and affect the value of the US dollar.
Higher oil prices could increase costs for businesses and consumers if they remain elevated. The outlook will depend on developments in the Middle East, the stability of energy supplies and broader economic conditions.
