Oil prices rise continued for a fourth consecutive trading session as investors reacted to growing concerns over potential supply disruptions in the Strait of Hormuz following recent US military strikes in Iran. The escalating geopolitical tensions have increased uncertainty in global energy markets, pushing crude prices higher.
Brent crude futures gained 0.4% to reach $85.28 per barrel, while US West Texas Intermediate (WTI) crude rose 0.5% to $80.02 per barrel. The steady increase reflects heightened fears that any disruption to one of the world’s most important oil transit routes could significantly affect global energy supplies.
The Strait of Hormuz is a critical maritime passage through which a substantial portion of the world’s crude oil and liquefied natural gas exports are transported. Any threat to shipping in the region is closely monitored by traders, as even temporary disruptions can trigger sharp movements in international oil prices.
Market analysts say the recent gains have been driven largely by concerns that escalating tensions in the Gulf could interfere with energy exports from major oil-producing countries. Investors are also watching for any further military developments that could increase risks to commercial shipping.
Experts warn that if crude exports from Gulf producers remain restricted for an extended period, oil prices could climb significantly higher. Some analysts believe Brent crude could exceed $110 per barrel if supply disruptions become severe or prolonged.
Higher oil prices could have wider economic consequences, including increased transportation and manufacturing costs, which may contribute to inflationary pressures in many countries. Governments and businesses are therefore closely monitoring developments in the region.
