Riyadh: Middle East tensions have intensified amid fears of potential new US strikes on Iran, pushing global crude oil prices to $118 per barrel.
According to news agencies, international oil prices recorded a further increase, with Brent crude rising 2.5% to reach $118 per barrel.
Concerns over attacks on oil tankers and the possibility of further US military strikes against Iran have heightened fears of disruptions to global oil supplies.
Meanwhile, US West Texas Intermediate (WTI) crude also climbed by nearly 2%, reaching approximately $104 per barrel.
The World Bank warned earlier this week that the ongoing conflict in the Middle East could push energy prices to their highest levels in four years.