Oil prices are fluctuating as the conflict between Iran and Israel continues for the sixth straight day. Brent crude had reached $76.70 per barrel, its highest level since February, while West Texas Intermediate (WTI) was also trending up.

The dramatic escalation in tensions between Israel and Iran caused a spike in the price of crude and raised fears among oil traders about disruption to shipping in the Strait of Hormuz, one of the world’s most vital waterways.

Analysts at Citigroup emphasize that fluctuations in oil prices will play a crucial role in shaping stock market trends in the near future, as investors keep a close eye on the escalating tensions in the Middle East.