Crude oil prices advanced on Friday as geopolitical risks to global energy supplies intensified following a breakdown in the recent truce between the United States and Iran.
The two nations stepped up military attacks across the Gulf region, raising immediate concerns that the conflict could spill over into critical maritime routes.
Brent crude and WTI futures both moved higher in the session, reflecting market anxiety over potential supply disruptions.
The primary driver of the repricing is the threat that the Red Sea could become another major bottleneck for global trade, compounding existing vulnerabilities in the Strait of Hormuz.
Analysts note that the potential closure of the Red Sea would significantly complicate the global oil outlook by forcing longer, more expensive shipping routes and tightening available supply.
This development marks a sharp escalation from earlier in the week, when oil prices had already climbed more than 1% on reports that Iran had instructed Yemen’s Houthi rebels to stand ready to close the Red Sea shipping lane.