Global oil prices have climbed above $85 per barrel as escalating military tensions between the United States and Iran fuel fears of prolonged disruption to energy supplies and international shipping. The latest exchange of strikes has heightened concerns over the security of the Strait of Hormuz, a critical route through which roughly a fifth of the world’s oil supply passes.
Brent crude rose sharply as traders priced in the growing geopolitical risk, with analysts warning that any sustained disruption to maritime traffic could tighten global supply and drive energy costs even higher. The spike has also strengthened demand for safe-haven assets while raising fresh concerns about inflationary pressures on economies that rely heavily on imported fuel.
Market observers say investors will be closely watching developments in the Gulf, as further escalation could trigger additional volatility across commodity, shipping and financial markets in the coming days.
