Crude oil prices advanced for a fourth consecutive session, driven by intensifying fears that renewed US military strikes on Iranian installations could trigger broader conflict and disrupt critical energy flows.
The benchmarks rose by nearly 3% in early trading, building on a rally that has seen both Brent and West Texas Intermediate (WTI) climb to their highest levels in four weeks.
The sustained upward pressure reflects market anxiety over the Strait of Hormuz, a vital chokepoint for global oil shipments.
Traders are increasingly pricing in the risk of supply disruptions should the military escalation widen, with shipping routes remaining exposed to potential interference.
Multiple wire services, including Espreso TV and TASS, have reported on the developing situation, noting that the strikes have heightened concerns about a wider regional confrontation.
The lack of an official de-escalation signal has kept risk premiums elevated in energy markets.