Brent crude hits highest since June 2022 on fears of renewed US strikes on Iran

Oil prices rose on Friday as fears of renewed US strikes on Iran and escalating regional tensions heightened supply concerns, pushing Brent crude to its highest level since June 2022, Anadolu reports. International benchmark Brent climbed 2.7%, or $3.06, to $116.20 per barrel as of 1350GMT, surpassing the peak recorded at the start of the war. US benchmark West Texas Intermediate (WTI) advanced 3.04%, or $3.02, to $102.50 per barrel, its highest level in five weeks. Brent has gained around 5% this week, while WTI has risen about 3%, putting both benchmarks on course for a third consecutive weekly advance. The rally came as expectations grew that Washington could resume strikes against Iran in the coming weeks. READ: Trump accuses Iran […]