Crude oil futures staged a sharp recovery on Monday, snapping a three-day losing streak as renewed fighting in the Middle East reignited concerns over global energy supply.
West Texas Intermediate (WTI) futures surged 5%, breaking through the $83 per barrel level, while Brent crude climbed to $84, reflecting a rapid repricing of geopolitical risk by traders.
The rally marks a significant shift in sentiment after prices had retreated in recent sessions.
The resurgence of hostilities has forced markets to reassess the fragility of supply routes and production stability in the region.
Traders are now weighing the immediate threat of disruption against the broader macroeconomic backdrop, with the war premium returning to benchmark prices.
This development follows a volatile period for energy markets.