Global oil prices rose again during early trading in Asia on Tuesday. The cost of oil in the US increased by 3%, reaching almost $106 (£80.52) per barrel. For the first time since the war on Iran began on February 28, US oil prices finished Monday's session above $100 a barrel. This is also the highest price for US oil since July 2022. Meanwhile, Brent crude, which is the global standard for oil prices, climbed to $115 after gaining over 2% on Tuesday. US President Donald Trump has continued to warn of potential strikes on Iran’s infrastructure if a deal is not made soon.
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Global oil prices edge higher as war shows no sign of easing
