Global oil prices rose for a third consecutive day on Tuesday as the escalating conflict in the Middle East and growing threats to shipping through the Strait of Hormuz heightened concerns over potential supply disruptions from one of the world’s most critical energy-producing regions.
According to Reuters, Brent crude futures climbed $1.10, or 1.4%, to $78.83 a barrel by 0107 GMT. On Monday, Brent surged to an intraday high of $82.37 — its strongest level since January 2025 — before easing back to settle 6.7% higher.
US West Texas Intermediate (WTI) crude also recorded gains, rising 74 cents, or 1%, to $71.97 a barrel. In the previous session, WTI touched its highest point since June 2025 before retreating, though it still closed 6.3% higher.
Market analysts said the sustained upward pressure reflects mounting fears that the conflict could severely disrupt energy flows through the Strait of Hormuz, a strategic chokepoint through which a significant share of global oil shipments pass daily.
“With no quick de-escalation in sight, the Strait of Hormuz effectively closed and Iran showing a willingness to target energy infrastructure in the region, upside risks remain and they grow the longer the conflict drags on,” IG market analyst Tony Sycamore said in a note. (The Guardian)
