Brent crude prices advanced on Thursday as market participants continued to weigh the escalating security risks surrounding the Strait of Hormuz.
The vital waterway, which serves as a critical artery for global energy flows, remains a focal point of geopolitical tension.
Traders are increasingly pricing in the probability of sustained disruptions to commercial shipping through the corridor.
The rally in oil comes as fresh reports indicate that traffic through the Strait is nearing a standstill.
This development follows the collapse of ceasefire talks, which had offered a potential pathway to de-escalate tensions in the region.
The breakdown of diplomatic efforts has reignited fears among investors that the conflict could widen, further threatening the flow of crude from the Persian Gulf.