Karachi, Pakistan – Web Desk: Global oil markets witnessed a sharp rise as fresh clashes between US and Iranian forces in the Strait of Hormuz triggered fears of supply disruption and renewed geopolitical instability.
According to international media reports, escalating tensions between the United States and Iran have put a fragile ceasefire at risk, causing volatility across global energy markets and raising concerns among investors.
Benchmark Brent crude oil surged by nearly 7.5% during Thursday’s trading session before easing slightly in Asian markets. However, prices remained elevated at around $101.12 per barrel. At one point, Brent crude had climbed as high as $103.70 per barrel.
Market analysts said the ongoing instability in the Strait of Hormuz—one of the world’s most critical oil transit routes—is directly impacting global supply expectations, fueling sustained upward pressure on prices.
US West Texas Intermediate (WTI) crude also recorded a strong increase, rising nearly 3% to $97.26 per barrel.
Energy experts estimate that the current geopolitical crisis could disrupt up to 14.5 million barrels of daily oil supply, adding significant uncertainty to global energy markets.
Analysts warn that any further escalation between Washington and Tehran could have major consequences for global economic stability, energy security, and fuel prices worldwide.
