Kathmandu. Crude oil prices have risen by more than 5 percent in the international market due to the escalating tensions in the Middle East. The price of crude oil has increased in the global market due to the escalation of the conflict with Iran after the joint action of the United States and Israel.

West Texas Intermediate crude oil rose more than 5 percent on Monday night, while Brent crude rose nearly 6 percent, according to international media reports.

The price of crude oil in the international market has increased due to fears of supply chain disruptions due to war and geopolitical tensions. According to international media, the price of oil has increased due to the disruption of sea transport.

There are signs that the rise in oil prices will put pressure on inflation. In the past, the sharp rise in energy prices has a history of leading to massive price increases. War is usually expected to push up inflation as it hurts the supply side. In some countries, the price of oil was rising due to hoarding even before the war started.

However, some international economists have said that the impact of the increase in oil prices may be temporary.