Oil prices rose on Sunday as tensions escalated after Iran warned against a potential U.S. ground invasion, despite statements from Donald Trump that negotiations to end the conflict would continue.
Brent crude and U.S. crude both posted gains as markets reacted to fears of supply disruptions in the Middle East.
Iran’s parliament speaker said Iranian forces are prepared for the arrival of U.S. troops, further heightening concerns about direct confrontation.
Additional risks to global oil flows include threats from Iran-backed Houthi forces, which have carried out attacks in the region and could target key shipping routes, CNN has reported.
The conflict has already disrupted energy supplies, pushed up fuel prices, and contributed to declines in stock futures amid broader economic uncertainty.
