Brent crude futures for September delivery rose above $74 per barrel on the London International Exchange, marking the first time the benchmark has cleared that threshold since June 30.
The move signals a stabilization in energy markets after a period of sharp volatility driven by geopolitical tensions.
WTI crude futures for August delivery also gained ground, edging up to $70.29 per barrel.
The synchronized rise in both benchmarks suggests that traders are repricing supply risk rather than reacting to a single isolated headline.
The recovery comes after Brent surged approximately 2% earlier in the week, breaking through the $73 barrier as markets digested reports of renewed military strikes between the United States and Iran.
The current price action reflects a cautious recalibration by investors.
While the immediate threat of supply disruption remains a key driver, the market appears to be finding a new equilibrium.