Global Oil Prices Hit 4-Year High Amid Iran Tensions and Trump's Attack Review

Global oil markets are experiencing significant volatility, with Brent crude futures soaring to a four-year high of $122.20 per barrel. This dramatic price increase is largely driven by the persistent conflict between the U.S., Israel, and Iran, coupled with escalating tensions and the possibility of renewed U.S. military engagement in the region.

The market reacted sharply to news that U.S. President Donald Trump was considering a resumption of military operations against Iran. Reports indicated that Trump was briefed on new operational plans aimed at delivering a final blow before a potential resolution. This uncertainty surrounding potential supply disruptions from a major oil-producing region has sent shockwaves through the global economy.

The impact is being felt worldwide, including in South Korea. The KOSPI index, which had initially touched a record high on the back of strong performance from U.S. tech giants, reversed course and closed down 1.38%. This demonstrates the interconnectedness of global markets, where geopolitical events and commodity prices can rapidly influence investor sentiment and economic outlooks across different regions.