Brent crude futures climbed 45 cents, or 0.6 percent, to $72.44 a barrel on Monday as renewed military strikes between the United States and Iran disrupted energy shipping in the Middle East.
The price move reflects growing market anxiety that the fragile interim peace deal between the two nations is deteriorating, raising the risk of sustained supply chain interruptions.
The escalation marks a significant shift in the regional conflict, with tit-for-tat attacks underscoring the volatility of the current geopolitical landscape.
Energy markets are pricing in the immediate impact of slowed shipping through key Middle East routes, a development that threatens to tighten global supply at a time when stability is already in question.
This latest surge follows a period of heightened tension, with oil prices advancing on Sunday after US military strikes on targets in Iran and climbing again on Wednesday amid fresh exchanges.
Despite claims from US President Donald Trump that negotiations with Tehran remain active, the physical reality of military action has taken precedence in market sentiment, driving investors to hedge against further disruption.