Global crude oil prices moved higher in early Wednesday trading as escalating tensions between the United States and Iran increased concerns about the security of oil supplies from the Middle East.

Brent crude futures rose by 87 cents, or 0.92%, to $95.52 a barrel. US West Texas Intermediate (WTI) crude also gained 80 cents, or 0.89%, reaching $91.10 per barrel, while UAE Murban crude moved above $106.

Biggest Daily Jump

The latest increase followed a sharp rise of more than $4 in both major oil benchmarks on Tuesday. It marked Brent's biggest daily gain since July 24 and WTI's strongest increase since July 23.

The price surge highlights growing concerns that further military escalation could affect crude production, transportation and exports from the energy-rich region.

US-Iran Conflict Escalates

The United States said it carried out airstrikes against several targets in Iran late Tuesday night. Iran responded with attacks of its own, marking one of the most serious escalations in the ongoing conflict between the two countries in recent weeks.

US Central Command said the strikes followed alleged attempts by Iran's Islamic Revolutionary Guard Corps (IRGC) to target commercial vessels in the Strait of Hormuz and US troops stationed across the region.

Markets Remain on Edge

The Strait of Hormuz is a critical global energy route, making any disruption there a major concern for international oil markets. Traders are now closely watching further developments as fears of prolonged conflict could push crude prices even higher.