Oil Prices Surge as Iran Conflict Shows No Signs of Ending

Oil prices jumped sharply on Monday as traders worried that the war between Israel and Iran will continue for a long time. The price of Brent crude, the global benchmark, rose more than 3% to over $78 a barrel. The increase comes after Iran launched a large missile attack on Israel last week. Israel has promised to retaliate, raising fears of a wider regional war. Investors are concerned that ongoing conflict could disrupt oil supplies from the Middle East, a region that produces about a third of the world's crude. Analysts say the market is reacting to the uncertainty. "The longer this war goes on, the higher the risk that oil production or shipping routes get hit," one energy expert said. The jump in prices also affects gasoline costs for drivers and could slow down the global economy. So far, no major oil fields or tanker routes have been damaged. But traders are watching for any escalation. If the fighting spreads to key oil-producing nations like Saudi Arabia or Iraq, prices could rise even further.