Brent crude futures climbed more than 4% in early trading as renewed military strikes between the United States and Iran cast fresh doubt on the security of global energy supply lines.
The price surge reflects immediate market anxiety over the potential for physical disruptions to oil flows through the Strait of Hormuz, a critical chokepoint for global crude shipments.
The escalation marks a significant intensification of the conflict, with reports indicating direct military exchanges between the two nations.
Traders are pricing in a heightened risk premium as the possibility of shipping lane closures or targeted attacks on infrastructure moves from theoretical to imminent.
The Strait of Hormuz remains under direct threat, with energy deliveries facing renewed uncertainty.
This development follows a period of volatile repricing in energy markets, where previous rounds of strikes had already sent shockwaves through financial markets.