Oil prices rise as Hormuz risks grow

Oil prices rise as Hormuz risks grow

Global crude oil prices moved higher in early trading as fresh attacks involving the United States and Iran raised concerns about a prolonged disruption to oil supplies through the strategically important Strait of Hormuz.

According to Reuters, Brent crude rose 0.54% in early trading to reach **$96.80 per barrel**, while U.S. West Texas Intermediate (WTI) climbed 0.72% to $92.14 per barrel.

The latest gains extend a sharp rally in oil markets. Brent crude increased **7.8% last week**, while WTI gained nearly **10%** over the same period. Since the war between the United States, Israel and Iran began on February 28, Brent prices have climbed by more than 30%, reflecting growing concerns about the security of global energy supplies.

Oil shipments through the Strait of Hormuz have also fallen significantly. The waterway serves as one of the world’s most important energy routes, carrying a substantial share of global oil supplies. Any prolonged disruption could tighten the international market, increase transportation costs and put further upward pressure on crude prices.

Market participants are closely monitoring developments in and around the strait as tensions continue to threaten maritime traffic. Traders fear that continued attacks or restrictions on shipping could disrupt the flow of crude oil for an extended period.

A sustained supply disruption could also affect fuel prices in countries that depend heavily on imported crude. Higher oil prices typically increase costs across the energy and transportation sectors and can add to broader inflationary pressures.

For now, investors remain focused on the security of the Strait of Hormuz and the possibility of further escalation. Any signs of reduced tensions or a restoration of normal shipping activity could ease oil prices, while additional disruptions could push crude prices significantly higher.