Oil prices rise for fourth straight day as Iran-US tensions fuel supply fears
Global oil prices have risen for a fourth consecutive day as growing tensions between Iran and the United States raise concerns over potential disruptions to energy shipments through the strategically important Strait of Hormuz.
According to Reuters, investor concerns intensified following fresh US strikes in Iran, increasing fears that any further escalation in the region could affect the flow of crude oil and natural gas to international markets.
International benchmark Brent crude rose around 0.4 percent to reach $85.28 per barrel, while US West Texas Intermediate (WTI) crude gained 0.5 percent to trade at $80.02 per barrel. The continued rise reflects growing uncertainty over energy supplies from the Middle East.
Market analysts said oil prices have remained under pressure throughout the week due to concerns about maritime security and shipping routes in the Gulf region. Traders are closely monitoring developments around the Strait of Hormuz, a key passage for global energy exports.
Economic experts warn that if crude oil exports from Gulf countries face further restrictions or shipping disruptions continue, Brent crude prices could surge beyond $110 per barrel. Such a spike could significantly increase fuel costs worldwide and add pressure on inflation-hit economies.
The Strait of Hormuz is considered one of the world's most important energy corridors, carrying a substantial share of global oil and gas exports. Any disruption in the waterway can have immediate consequences for energy markets, transportation costs and economic stability across the globe.
Investors are now watching regional developments closely, with concerns that prolonged tensions could trigger further volatility in global commodity markets.