London: Oil prices in global markets recorded a slight increase on Tuesday, supported by escalating geopolitical tensions that renewed concerns about the security of energy supply lines. The price of a barrel of Brent crude reached approximately $63.24 at the start of the global trading session, while the price of a barrel of West Texas Intermediate (WTI) crude reached approximately $59.42, achieving limited gains.

According to National Iraqi News Agency, economic circles attributed this partial rise to geopolitical factors, most notably the potential risks that could affect transportation lines in key production areas, which highlights the fragility of the balance between supply and demand in the oil market. This increase comes despite the OPEC+ alliance's decision to maintain unchanged production levels for the first quarter of 2026, a move aimed at avoiding an oil supply glut and preserving market stability.