Brent crude futures jumped more than 5% on Monday, trading at $80.03 per barrel, after US President Donald Trump pledged to reinstate a blockade on Iranian ports.
The sharp move in energy prices followed the statement, which markets interpreted as a significant escalation in geopolitical pressure on key shipping routes in the Persian Gulf.
The surge marks a continuation of the volatility that has gripped oil markets this week.
Brent crude had already risen on Wednesday amid reports that the United States was preparing to extend its blockade of Iranian ports.
The latest development from the White House has intensified fears of supply disruption, pushing prices higher as traders assess the potential impact on global energy flows.
This escalation adds a new layer of risk to an already tense situation in the region.