WANA (Aug 31) – Brent crude opened the new trading week sharply higher as renewed fighting between Iran and the United States intensified, putting fresh pressure on global energy markets and raising concerns over potential supply disruptions.

 

Brent crude was trading at around $90.50 per barrel in the first minutes after the market opened, briefly approaching the $91 mark.

 

The benchmark had closed last week at $88.30 per barrel, meaning Brent gained roughly $2 at the start of the new trading week.

 

The price increase comes amid heightened regional tensions, with traders closely watching developments that could affect oil supplies and the security of key energy routes.

 

An earlier analysis by Kobisi Letter argued that a sustained rise in oil prices could increase economic and political pressure on the United States.