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Thursday 3rd of July 2025 E-paper
* No Bangladesh-China-Pakistan alliance forming: Touhid   * Holy Ashura to be observed on July 6   * 36-member national committee formed to celebrate Mass Uprising Days   * CA urges Meta to tackle disinformation more effectively   * CA calls for collective action to protect St Martin’s island   * Bangladesh’s forex reserves cross $27bn   * Trump announces ceasefire between Iran and Israel   * 6.3-magnitude quake hits off southern Philippines   * Middle East: Four Countries Close Airspace, All Flights from Dhaka Canceled   * 90pc of Israeli strikes hit residential sites in Tehran  
   International
  Oil prices surge after US strikes on Iran

News Desk : Oil prices soared in early trading on Monday due to fears of energy market disruptions following US airstrikes on Iran’s nuclear facilities.

At the opening of trading, Brent crude and the US benchmark WTI surged over four percent, reaching their highest levels since January, according to AFP.

However, gains later moderated, and by approximately 00:30 GMT, Brent was trading at $79.20 per barrel, up 2.2 percent, while WTI rose 2.1 percent to $75.98 per barrel.

MUFG economists, as reported by AFP, noted that the "high uncertainty surrounding the outcomes and duration of this conflict" could lead to an oil price increase of up to $10 per barrel.

Iran, the world’s ninth-largest oil producer, generates about 3.3 million barrels per day, exporting nearly half while retaining the rest for domestic use.



  
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