International oil prices saw their biggest one-day increase in years

Odaily News International oil prices saw their largest one-day percentage increase in years, reflecting concerns that the expansion of the conflict in the Middle East could lead to serious energy supply disruptions. Brent crude oil prices rose as much as 4.3% to $72.4 a barrel. WTI crude oil prices rose as much as 5% to $71.4 a barrel. According to Reuters, this was the largest one-day increase in benchmark contracts since March 2022, a month after the full-scale outbreak of the Russian-Ukrainian conflict. Ahmad Assiri, a research strategist at financial services firm Pepperstone, wrote that the surge in Brent crude oil prices illustrates both "imminent supply concerns and a growing sense that negative news could prolong the escalation of the situation, unlike the previous Israel-Iran conflict." (Jinshi)