Brent crude climbed to $86.19 per barrel, up $1.46 or 1.72%, while WTI rose $1.11, or 1.4%, to $80.40, extending a three-session rally driven by escalating geopolitical risk in the Middle East.
The move follows President Donald Trump’s warning of additional military strikes on Iran, delivered shortly after the United States reinstated its blockade of Iranian shipping routes.
Brent had previously jumped over 2% on fears that an interim peace deal was unraveling, and has since held above $70 as supply concerns lingered.
The threat of renewed conflict has kept a persistent risk premium embedded in energy markets, with traders pricing in potential supply disruptions from the Strait of Hormuz.
The latest escalation marks a continuation of the volatility that has defined crude markets since late June, when initial reports of military strikes between the US and Iran triggered sharp repricing.
Brent had previously jumped over 2% on fears that an interim peace deal was unraveling, and has since held above $70 as supply concerns lingered.
The current surge past $85 reflects growing investor anxiety that diplomatic efforts in Doha are stalling, leaving the Strait of Hormuz—a critical chokepoint for global oil shipments—exposed to further disruption.