Global oil prices have climbed close to $110 per barrel as escalating US-Iran tensions and fresh supply disruptions from Kazakhstan and Ukraine have tightened crude supplies across international markets.

Physical crude cargo prices in the Middle East, Europe and Africa rose sharply this week, reaching their highest levels in nearly two months. Some shipments were priced close to $110 per barrel as buyers rushed to secure immediate supplies.

The benchmark Dated Brent, which is used to price more than 60% of the world's physical crude oil cargoes, climbed to $105.70 per barrel, according to LSEG data. The benchmark crossed the $100 per barrel mark for the first time since early June and touched its highest level since late May.

Analysts said growing concerns over oil supply have returned to the spotlight as geopolitical risks continue to increase. Rising tensions between the United States and Iran, along with the ongoing conflict involving Ukraine, have added fresh uncertainty to global energy markets.

Meanwhile, Kazakhstan reported that operations at the key CPC Blend crude export terminal on the Black Sea were suspended following alleged Ukrainian drone attacks. The disruption forced the country to reduce oil production significantly.

According to a source, Kazakhstan's crude output has fallen by nearly half to around 460,000 barrels per day, raising concerns over global supply at a time when demand remains strong.

Market experts warn that if geopolitical tensions persist and supply disruptions continue, international oil prices could remain elevated in the coming weeks.