.png&w=1920&q=75 "US treasury chief predicts sharp fall in oil prices (Courtesy: Online)")
Rising tensions between the United States and Iran have sustained an upward trend in global oil prices.
International reports indicated that the seizure of commercial vessels has worsened the situation, raising fears of disruption to global energy supplies.
Crude oil prices in the international market have recorded a further increase. According to reports, crude rose by 1.7 per cent to reach 97 dollars per barrel, while Brent crude gained 2 per cent and traded at 107 dollars per barrel.
