Global oil prices climbed to their highest levels in almost four weeks as growing tensions between the United States and Iran raised fresh concerns about energy supplies through the Strait of Hormuz.

Brent crude rose by $1.68, or 2 percent, to reach $85 per barrel, while US West Texas Intermediate (WTI) crude gained $1.65, or 2.1 percent, to trade at $80 per barrel. Murban crude also increased to $80.57 per barrel.

The latest rally follows a sharp rise in the previous trading session, when Brent crude jumped 9.6 percent, marking its biggest single-day gain since May 2020.

Market concerns intensified after the UAE Ministry of Defence reported that two Emirati oil tankers were struck by Iranian cruise missiles in Omani waters along the southern route of the Strait of Hormuz. The incident reportedly killed one Indian crew member and injured eight others.

Adding to uncertainty, US President Donald Trump announced that Washington had reimposed a naval blockade targeting Iranian maritime transport. He said countries benefiting from security in the Strait of Hormuz should help cover the costs of maintaining it.

Energy analysts warn that the renewed confrontation between Tehran and Washington is increasing risks to global oil supplies. Although the Strait of Hormuz remains open, fears of disruption have already affected market sentiment.

Meanwhile, US Central Command confirmed a third consecutive night of strikes against Iranian targets. Iranian media also reported explosions in Bandar Abbas and on Kish Island.

Analysts further caution that any expansion of regional conflict, including potential attacks on oil shipments in the Red Sea, could place additional pressure on global energy markets and drive oil prices even higher.