Global oil prices rose more than 2% during today's trading, following renewed exchanges of attacks between the United States and Iran, sparking a wave of concern in markets over the security of oil supplies.

Brent crude futures rose $1.89, or 2.12%, to $91.11 a barrel, while US West Texas Intermediate crude gained $2.07, or 2.49%, to settle at $85.30 a barrel in its last trading session before the nearest-month contract expired.

This rise comes amid escalating geopolitical tensions in the region, as the Middle East is a vital corridor for global oil shipments, making any security disruption there a direct factor in driving crude prices upward.