Oil prices have broken the $65 barrier amidst growing anxieties surrounding worldwide supply levels. Several factors contribute to this surge, including geopolitical tensions in key oil-producing regions and consistently robust global demand.

Analysts are closely observing market trends, predicting possible future increases if supply vulnerabilities persist. Inventory levels are also being scrutinized, with any decline likely to exacerbate the upward pressure on prices.

The rising cost of crude oil is expected to have downstream effects, potentially impacting transportation, manufacturing, and consumer prices globally. Market participants remain cautious, awaiting further clarity on the balance between supply and demand.