Crude oil prices climbed to a one-month high as Iran expanded its military campaign against United States forces in the Persian Gulf.
Tehran launched fresh strikes on US military facilities in Bahrain and Kuwait, marking a significant escalation in the ongoing conflict.
The attacks come after a sixth consecutive night of hostilities, with sirens sounding across multiple Middle Eastern countries as the retaliatory campaign intensified.
Brent crude surged on the news, reflecting persistent fears that the Strait of Hormuz remains exposed to disruption.
The shipping risk premium, which has lingered since earlier clashes, held firm as markets priced in the possibility of further supply chain interruptions.
Traders are closely monitoring tanker movements and insurance rates, with any sign of route closures likely to trigger another spike in energy costs.