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International Business Times

Business

Geopolitical Tensions Continue to Escalate Around the World. Oil Prices Are Climbing Again.

Donald Trump Benjamin Netanyahu Oil Abbas Araghchi Iran United States

Oil prices are climbing again on Tuesday as geopolitical tensions remain high. (Credit: Getty Images)

Oil prices are climbing again on Tuesday as geopolitical tensions remain high and the conflicts fueling the energy crunch show no signs of abating.

Brent crude, the international benchmark, gained 1.59% and stood at $111.29 a barrel at 8:15 a.m. ET, while West Texas Intermediate, the U.S. benchmark, climbed 2% and went back above $100 a barrel at the same time.

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