Oil Prices Increase By 1.46% After Drone Strikes; What Happens in Iraq Affects the World -

 Oil prices rose by over 1.46% following drone attacks on oilfields in Iraq, raising concerns about potential disruptions to global supply. Brent crude futures increased to $82.31 a barrel, while U.S. West Texas Intermediate crude climbed to $78.61.

The drone strikes targeted oil facilities in northern Iraq, though the full extent of the damage has not yet been confirmed. While production has not been officially reported as interrupted, the incident has added pressure to already sensitive global energy markets.

This rise in prices comes as traders remain cautious due to geopolitical tensions in the region and broader concerns about supply stability. Iraq, one of the largest oil producers within OPEC, plays a critical role in the global energy market.

Analysts will continue to closely monitor the situation to assess whether this event could lead to further volatility in oil prices or impact future output.