Crude oil prices in the global market continue to rise due to ongoing tensions in the Middle East.
According to a British website, the price of Murban crude oil in the global market has reached $122 per barrel.
The report indicates that on Thursday, the price of Brent crude oil rose by another one percent to reach $108.68 per barrel.
The price of US crude—West Texas Intermediate (WTI)—also hit its highest level since mid-May, closing at $103 per barrel after a 6.7 percent increase.
It is worth noting that concerns regarding disruptions to global energy supplies have intensified following reports of Houthi forces seizing the port city of Mocha in Yemen and further attacks on ships in the Strait of Hormuz.
