Brent crude prices are climbing sharply as the conflict in Iran intensifies, reversing the brief period of stability that had seen the benchmark retreat to pre-war lows earlier this week. The escalation has reignited fears among traders that the Strait of Hormuz could face renewed disruption, threatening global energy flows once again.
The market repricing is immediate and tangible for consumers.
Oil prices had already spiked more than 4% on Sunday amid these developments, with further gains recorded on Monday as the scope of the strikes became clearer.
In Germany, the average price for a liter of Super fuel jumped to €2.328 on Sunday, reflecting the rapid transmission of higher crude costs to the retail level.
This marks a significant reversal from the easing pressure seen just days prior, as the geopolitical premium on oil returns with force.
The surge follows a series of fresh U.S. military strikes against targets in Iran, which have heightened concerns about a prolonged conflict.
Oil prices had already spiked more than 4% on Sunday amid these developments, with further gains recorded on Monday as the scope of the strikes became clearer.