Crude oil prices climbed in the international market on Tuesday as tensions between the United States and Iran intensified.
According to market data, Brent crude rose by 87 cents, or 0.92%, to reach $95.52 per barrel. US West Texas Intermediate (WTI) also gained 80 cents, or 0.89%, and was traded at $91.02 per barrel.
Both benchmark oil prices had also posted a sharp increase of more than $4 per barrel on Monday. This marks the biggest single-day gain for Brent since July 24 and for WTI since July 23.
Analysts say concerns over a potential escalation between Washington and Tehran are driving buying in the oil market, as investors worry about possible disruptions to supply from the Middle East.
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