Oil prices rise in world market after US attack on Iran

The price of fuel oil has risen in the international market after a fresh US attack on Iran's strategic port city of Bandar Abbas. At the same time, tensions in the Strait of Hormuz have escalated, raising concerns about energy supplies around the world.

The US Central Command (CENTCOM) said it had shot down four Iranian drones that could pose a threat around the Strait of Hormuz. It also confirmed an attack on a military installation in the Bandar Abbas area, reports, BBC.

Immediately after the attack, oil prices rose in the world market. Brent crude rose nearly 3.75 percent to $97.83 a barrel. On the other hand, the price of West Texas Intermediate crude in the United States rose nearly 4 percent to $ 92.22 per barrel.

According to analysts, this tension in the Middle East is directly affecting the energy supply system around the world. A large part of the world's oil and liquefied natural gas is transported through the Strait of Hormuz. Any volatility in this waterway has an immediate impact on the global market.

Talks between Tehran and Washington are underway to resolve the ongoing conflict, but the situation is still uncertain. Months of tensions have left the Strait of Hormuz virtually unstable, putting pressure on global energy markets.

Analysts say that if the situation does not return to normal soon, there may be more volatility in the oil market in the coming days.