Oil Prices Rise with Geopolitical Tensions

Brent oil prices rose to 76,68 dollars per barrel as of 09.00 today, with an increase of approximately 0.5% compared to the previous closing.

■The rise in oil prices was influenced by the continuation of reciprocal attacks between Washington and Tehran after US President Donald Trump announced the end of negotiations with Iran.

■According to Iran's semi-official Mehr News Agency, explosions were heard in the provinces of Sistan and Baluchistan, Bushehr, and Hormozgan. The governor of Bushehr stated that an investigation is underway to determine the source of the sounds, whether from air defense systems or "enemy" missiles.

Geopolitical Tensions and Oil Prices - The US military carried out intensive attacks on various cities in southern Iran on July 8.

■Meanwhile, uncertainties regarding the reopening of the Strait of Hormuz, through which approximately 20% of global oil trade passes, are also increasing supply concerns in the markets.

■Ongoing tensions and shipment risks in the region continue to support oil prices.

Market Impressions - Brent oil prices rose to 79,25 dollars yesterday.

■WTI crude oil prices were traded at 72,28 dollars.

■The rise in oil prices is affecting global energy markets.

Markets are highly sensitive to this situation, and any new development can further impact oil prices.