Oil prices continue to rise in global markets

Pars Today – An incident involving two oil tankers near Oman and the Strait of Hormuz over the weekend has heightened concerns in global markets and pushed oil prices higher.

According to Pars Today, citing IRNA, oil prices continued their upward trend on Monday, October 12, 2026, amid escalating tensions in West Asia following an increase in attacks by Yemen’s armed forces on Saudi Arabia, as well as incidents involving two oil tankers near Oman and the Strait of Hormuz over the weekend. These developments have raised concerns about regional oil supplies.

Brent crude futures rose by 76 cents, or 0.73 percent, to $105.48 a barrel, while US West Texas Intermediate (WTI) crude futures gained 59 cents, or 0.64 percent, to $92.44 a barrel.