Crude oil markets rallied sharply on Monday, recording their largest two-day percentage gain in four months as geopolitical tensions in the Middle East flared.
The price surge follows reports of the most intense military exchange between the United States and Iran since the collapse of the June ceasefire, with both sides launching new attacks in the region.
Brent crude and WTI benchmarks climbed to their highest levels since the start of the Iran war, reflecting immediate market anxiety over potential supply disruptions.
The repricing underscores the persistent vulnerability of global energy flows to geopolitical instability, particularly as shipping routes and export infrastructure remain exposed to conflict.
This escalation marks a significant deterioration in the security environment, reversing earlier hopes for a stabilized post-ceasefire regime.
Investors are now weighing the risk of broader regional involvement against the backdrop of already tight global supply conditions.