Brent crude futures climbed above $83 per barrel on the ICE exchange, reaching their highest level since June 16.

The September contract traded at $83.02 per barrel, reflecting a sharp intraday surge that pushed prices well above the $81 threshold breached earlier in the week.

This latest jump follows a period of volatile trading where Brent had previously surged to $80.

The move represents a significant acceleration in the ongoing energy rally.

After breaking through $81 for the first time since late June, the benchmark has now extended its gains to test higher resistance levels.

The price action underscores persistent market anxiety regarding global supply stability, with traders repricing risk premiums amid geopolitical uncertainties.

This latest jump follows a period of volatile trading where Brent had previously surged to $80.12, driven by reactions to shifting geopolitical dynamics in the Middle East.