Global oil prices rise to $106 per barrel

Global crude oil prices rose for a second consecutive trading session, with Brent crude futures increasing by 63 cents, or 0.6%, to $105.91 a barrel, according to Reuters.

U.S. West Texas Intermediate (WTI) crude also rose 72 cents, or 0.8%, to $93.32 a barrel.

Although there are signs that crude oil exports from the Middle East may resume, concerns over supply disruptions stemming from the U.S.-Iran war are driving prices higher, Reuters reported.