Brent crude climbed to its highest level in a month on Tuesday, driven by fresh reports of a renewed naval blockade targeting vessels bound for Iranian ports.
The escalation in maritime restrictions has reignited supply concerns, adding to the pressure on global energy markets that have been volatile since the onset of the Iran conflict.
The price surge follows a sharp rally in crude oil markets on Monday, which recorded the largest two-day percentage gain in four months.
That move was fueled by reports of intensified military activity in the Middle East, with traders now pricing in a higher risk premium for shipping disruptions in the Strait of Hormuz and the Gulf of Oman.
European equity markets are expected to feel the drag from higher energy costs, with German shares likely to open lower as investors reassess the outlook for industrial demand and logistics costs.
The blockade announcement marks a significant shift in the geopolitical posture, moving from general tension to direct interference with commercial shipping lanes.