Oil surges past $95 as U.S. downplays Iran diplomacy and 2nd trade route is disrupted

Brent crude oil surged nearly 5% to over $95 per barrel on Wednesday, hitting its highest level in almost six weeks. The spike followed the U.S. downplaying Iran diplomacy and a second trade route being disrupted. The international benchmark's rise marks a significant increase amid ongoing geopolitical tensions affecting global energy markets and supply chains.