Brent crude has climbed above $91 a barrel, reaching its highest level in more than a month as traders price in persistent shipping risks in the Middle East.
The benchmark contract extended gains seen earlier in the week, reflecting renewed anxiety over supply disruptions.
The move comes as reports of a renewed naval blockade targeting vessels bound for Iranian ports have escalated tensions in the region.
These maritime restrictions have reignited fears that global oil supplies could be constrained, reversing the calm that had briefly settled over the market following earlier de-escalation efforts.
This surge marks a sharp reversal from just days ago, when Brent crude had retreated to pre-war lows as shipping activity in the Strait of Hormuz appeared to normalize.
That brief period of stability, which Handelsavisen covered on July 2, has been short-lived as geopolitical friction intensifies once again.
The rapid repricing underscores the market's sensitivity to geopolitical headlines in the region.