Crude oil benchmarks continued their upward trajectory in early Asian trading Thursday, reaching their highest levels in more than six weeks amid continued military escalation between the United States and Iran. According to OilPrice, Brent crude advanced 2.10% to trade at $96.05 per barrel, while West Texas Intermediate crude gained 1.64% to $88.25 per barrel, reflecting growing concern over supply disruptions in a strategically critical region.
The price rally coincided with the U.S. launching its 12th consecutive wave of strikes against Iranian military targets, underscoring an intensifying cycle of military action and retaliation. The sustained confrontation has heightened geopolitical risk premiums in global energy markets, as traders assess the potential for further disruptions to oil flows from one of the world's major producing regions.
The surge in crude prices reflects broader market anxiety over regional stability, particularly given involvement by Iran-backed militant groups including Yemen's Houthis, which have escalated threats against commercial shipping and regional interests. Energy analysts are closely monitoring whether the military operations will force lasting changes to production or exports from the Middle East.
