Global oil prices showed a cautious trend at the start of Thursday’s trading session as investors closely monitored developments in the US-Iran conflict and their potential impact on crude supplies.

Brent crude futures for October delivery rose 25 cents, or 0.3%, to reach $92 per barrel during early trading.

The increase came as traders remained concerned about possible disruptions to oil shipments through the Strait of Hormuz, one of the world’s most important energy routes.

WTI Shows Mixed Trend

US West Texas Intermediate (WTI) crude for September delivery moved slightly lower, falling 2 cents to $85.81 per barrel.

However, the more actively traded October WTI contract gained 14 cents, or 0.2%, to reach $84.53 per barrel.

The mixed movement reflected continued caution among investors as they assessed supply risks and geopolitical developments.

Prices Remain Near Recent Highs

Both major oil benchmarks had gained for a fourth consecutive trading session on Wednesday.

Brent and WTI had also reached their highest levels since July 24 during the previous session, highlighting the growing pressure on global energy markets.

Hormuz Remains Key Risk

The Strait of Hormuz remains a major focus for oil traders because disruptions to shipping through the waterway could affect global crude supplies and push prices higher.

Investors are therefore closely watching developments between the United States and Iran, particularly any changes affecting commercial shipping in the region.

Analysts are expected to remain cautious as geopolitical uncertainty continues to influence oil markets, with further developments around the Strait of Hormuz likely to determine the direction of crude prices in the coming sessions.