Brent crude futures gained 0.9% to $72 a barrel on Sunday, extending a multi-day rally driven by the ongoing military confrontation between the United States and Iran.
The price action reflects a market that remains on edge as the conflict enters its fourth consecutive day, with Tehran maintaining its claim of authority over the Strait of Hormuz.
The Strait of Hormuz remains the critical chokepoint for global energy flows, handling roughly a fifth of the world's oil supply.
Iran's continued assertion of control over the waterway has kept shipping insurance premiums elevated and freight rates volatile, even as the immediate threat of a total blockade has not materialized.
Traders are balancing the tangible risk of supply disruption against the lack of fresh, escalatory headlines that would justify a sharper spike in prices.
Global equity futures also opened higher on Sunday, indicating that investors are beginning to digest the geopolitical shock rather than reacting with panic.