These sources believe oil is starting the week on fire, with Brent crude surpassing $106 per barrel due to the escalating conflict between the United States, Israel, and Iran.

Global crude prices extended their upward trend from the previous week on Monday, driven by the intensification of the conflict in the Middle East.

The weekend attacks on Iranian oil infrastructure triggered alarm bells in global markets, pushing Brent crude, the European benchmark, above the $106 per barrel mark in the early hours of trading.

Meanwhile, West Texas Intermediate (WTI) is flirting dangerously with $100.

Early in the day, Brent crude futures for May delivery reached $106.50 per barrel, although they later eased slightly to trade around $104.10.

Meanwhile, WTI, the benchmark for the United States, peaked at $102.44, before stabilizing near $99.50.

This volatility reflects investor nervousness about the possibility of a prolonged supply disruption from one of the most critical regions for global energy production.

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