Oil prices continued to rise on Tuesday, reaching their highest levels in a month, as a surge in strikes and counter-strikes between the United States and Iran roiled markets.
Brent crude, the international benchmark, exceeded $85 a barrel for the first time in a month. Analysts at the Eurasia Group said maritime traffic in the Strait of Hormuz was likely to fall from 30 to 50 percent of pre-war flows before the latest burst of fighting to just 5 to 15 percent of pre-war levels. As a result, they expect oil to trade at a price of up to $95 per barrel due to the disruption.
