DUBAI: The global oil markets have experienced their highest price surge in recent times due to escalating tensions across the Middle East region.
The reports showed that the current regional conflict, together with the US failure to establish access to the Strait of Hormuz has driven crude oil prices to increase. Brent crude oil prices have risen approximately 17% to reach $108 per barrel while US crude oil prices have increased almost 19% to also reach $108 per barrel.
Experts predict that the ongoing Middle East conflict will lead to increasing oil prices which might reach $120 per barrel.
US confirms seventh soldier’s death in ongoing conflict with Iran
Meanwhile, the United States has confirmed the death of its seventh soldier in the conflict with Iran. According to the US Central Command, the soldier was wounded on March 1 when Iranian forces launched an attack on a US military base in Saudi Arabia. Although the soldier received treatment, he eventually died from the injury.
The deceased soldier’s identity will stay secret until his family receives notification.
Earlier, the bodies of six US soldiers killed in a drone strike in Kuwait were returned to the US A memorial service took place at Dover Air Base which President Donald Trump, First Lady Melania Trump and Vice President J.D. Vance and other senior officials attended.
The soldiers had been killed during an attack at the Port Shuaiba in Kuwait.
