West Texas Intermediate (WTI) crude oil prices jumped 6.5% to reach $84.46 a barrel, driven by intensifying geopolitical friction between the United States and Iran.
The sharp move reflects growing market anxiety over potential supply disruptions in the Middle East, a region critical to global energy flows.
The rally extends a volatile week for crude markets, which already saw prices rise more than 4% on Wednesday following reports of joint US-Saudi military actions in the region.
The rally extends a volatile week for crude markets, which already saw prices rise more than 4% on Wednesday following reports of joint US-Saudi military actions in the region.
Monday’s session had previously recorded the largest two-day percentage gain in four months as tensions flared.
The current spike underscores how quickly geopolitical risk is being priced into energy assets.
Traders are closely monitoring the situation for any signs of broader conflict that could impact shipping routes or production facilities.