South East Asian Headlines & Breaking News

Global oil prices edge higher as war shows no sign of easing

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Global oil prices continued to climb in early trade in Asia on Tuesday.

The price of US-traded oil jumped by 3% to nearly $106 (£80.52) a barrel.

US oil prices closed Monday’s trading session above $100 a barrel for the first time since the war on Iran started on 28 February. Its also the highest price of US oil since July 2022.

Brent crude – the global benchmark for oil prices – rose to $115 after gaining by more than 2% on Tuesday.

US President Donald Trump has continued to threaten strikes on Iran’s infrastructure if a deal is not reached soon.

Source: BBC

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