Dhaka, June 14 (V7N) — Fuel prices are surging in the global market following escalating tensions in the Middle East. After Israel’s attack on Iran on Friday (June 13), crude oil prices spiked by 10 percent, marking the sharpest rise in recent months.

According to international news agencies, oil prices have now reached their highest level in over five months, raising concerns about widespread economic impacts. Experts warn that the spike in fuel prices may not only increase transportation costs but could also trigger a rise in food prices and consumer goods, potentially driving inflation across many economies.

Adding to the anxiety, there are growing fears of disruptions in global fuel supply chains if the Middle East conflict intensifies further.

On Friday, the price of Brent crude rose by 7 percent compared to Thursday, settling at $74.2 per barrel. Analysts expect further volatility in the market depending on how the geopolitical situation develops in the coming days.

With fuel being a critical component of the global economy, any prolonged instability could have far-reaching consequences worldwide.

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