Global oil prices surged sharply on Monday, with Brent crude rising amid escalating war fears, pushing markets toward a potential energy crisis.
According to international reports, Brent crude increased by $3.09 to reach $115.66 per barrel, while West Texas Intermediate climbed to $102.56 per barrel. The sharp rise reflects growing uncertainty in global markets due to intensifying geopolitical tensions.
In just one month, Brent crude has recorded an extraordinary 59 percent increase, marking the largest monthly gain since the 1990 Gulf War. Analysts describe this surge as alarming, warning that the situation could worsen if the conflict continues to expand.
Experts say the primary reason behind this dramatic increase is the disruption around the Strait of Hormuz, a key route through which nearly one-fifth of the world’s oil and gas supply passes. Any blockage or instability in this region directly impacts global energy supplies.
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The crisis has now extended beyond the Gulf region, with major shipping routes like the Red Sea and Bab al-Mandab also under threat. Tensions escalated further after Yemen’s Houthi rebels reportedly launched attacks on Israel, widening the scope of the conflict across the Middle East.
Market analysts, including those cited by Bloomberg, warn that oil prices could surge as high as $200 per barrel if supply disruptions persist. Such a spike could trigger inflation, slow economic growth, and lead to fuel shortages in countries like Pakistan and Thailand.
