Dubai: (RightNow) Rising tensions between Iran and the US have pushed global oil prices to a two-month high.

In the Middle East, Europe, and Africa, the cost of physical crude oil cargoes has significantly increased, with some reaching $110 per barrel.

Disruptions in supply due to conflicts in Iran and Ukraine are forcing buyers to seek alternative sources for oil.

Globally, the benchmark for crude oil prices, Dated Brent, reached $105.70 per barrel on Thursday, the highest since May.

It is noteworthy that Kazakhstan’s oil production in the Black Sea has halved following alleged Ukrainian drone attacks.