Brent Crude Jumps 4% to $112: 4 Reasons Behind Soaring Oil Prices

• Brent crude oil futures surged 4% to over $112 per barrel, with WTI crude also rising to nearly $100.
• Fresh attacks on energy infrastructure in the Middle East, including an Israeli attack near Iran, are fueling concerns.
• The US Federal Reserve kept interest rates steady but projected higher inflation and a single rate cut this year.
• Closure of the Strait of Hormuz is disrupting gas and oil supply, impacting dependent nations like India and Pakistan.
• Analysts forecast Brent prices could reach $120 soon, potentially averaging $130 if energy infrastructure is targeted.