Crude oil prices advanced on Thursday as traders weighed the ongoing security risks surrounding the Strait of Hormuz.
The vital waterway, which handles a significant portion of global oil flows, remains a focal point of geopolitical tension between the United States and Iran.
Brent crude and WTI futures both posted gains in volatile trading, reflecting the market's sensitivity to any potential disruption in the corridor.
The price action underscores the persistent risk premium embedded in energy markets as long as the status of the strait remains uncertain.
The latest developments follow a period of heightened volatility, with previous reports indicating that the strait had been closed or restricted following military actions.
While the exact operational status of shipping lanes continues to be monitored, the mere possibility of disruption is enough to drive buying interest among energy traders.