Crude Oil Surges Past $85 Amid OPEC Production Cuts and Geopolitical Tensions

The price of US crude futures has broken the $85 milestone for the first time since October, driven by a combination of OPEC+ production cuts, robust demand, and escalated geopolitical risks. Oil prices have seen a surge this week, particularly due to mounting tensions in the Middle East. Iran has vowed retaliation against Israel following an airstrike on its embassy in Syria that resulted in the death of a senior military commander.