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 market concern over the security of oil supplies.

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

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