Oil prices have climbed to their highest level since the start of the Iran conflict, according to Axios, as markets continue to price in supply disruption risks from the Middle East.
The move reflects a persistent geopolitical risk premium, with little near-term diplomatic progress to ease tensions.
The advance underscores how crude benchmarks remain sensitive to regional escalation.
Brent and WTI are trading with a war premium, keeping energy equities and freight rates in focus.
Traders are looking for concrete supply data or policy shifts to determine whether the rally holds or retraces.
What to watch: OPEC+ production signals, official inventory releases, and any updates on shipping route security or sanctions policy.