Brent Crude Jumps More than 2% as Washington–Tehran Escalation Fuels Supply Fears

Oil prices climbed sharply on Friday, with U.S. crude rising more than 2%, as intensifying military tensions between the United States and Iran heightened fears of potential disruptions to global energy supplies and key maritime trade routes.

Brent crude futures gained $1.53, or 1.66%, to $85.63 a barrel by 0714 GMT, while U.S. West Texas Intermediate (WTI) crude advanced $1.69, or 2.09%, to $80.60 a barrel.

The gains added to a strong weekly rally that has seen both benchmarks surge roughly 13%, putting Brent on track for a third consecutive week of gains and WTI on course for its second straight weekly advance.

Latest Oil Prices:

WTI Crude • 80.90 +1.95 +2.47%

Brent Crude • 86.18 +1.95 +2.32%

Murban Crude • 80.46 +2.73 +3.51%

WTI Midland • 81.09 +1.74 +2.19%

Opec Basket • 86.16 +8.13 +10.42%

Indian Basket • 3 days 82.69 +8.32 +11.19%

Natural Gas • 2.892 +0.034 +1.19%

Gasoline • 3.380 +0.095 +2.90%

Heating Oil • 4.077 +0.046 +1.15%

Market sentiment has shifted decisively toward supply concerns following the collapse of the ceasefire between Washington and Tehran.

Reduced oil flows through the Strait of Hormuz have heightened anxiety across energy markets, while renewed threats to commercial shipping in the Red Sea have added another layer of uncertainty.

Iran has reportedly encouraged Yemen's Houthi movement to threaten shipping in the Red Sea should Iranian energy facilities face additional U.S. military strikes, raising concerns that one of the world's most important maritime corridors could become increasingly vulnerable.

Analysts at Commerzbank said tanker traffic through the Red Sea has increased significantly since the conflict with Iran intensified, as Saudi Arabia redirected part of its crude exports away from the Strait of Hormuz.

They warned that any disruption to shipping through the Bab el-Mandeb Strait, which connects the Red Sea to the Gulf of Aden, could trigger a further spike in oil prices by constraining global supply routes.

The latest market reaction follows another round of military exchanges between the United States and Iran.

Iran announced on Friday that it had launched fresh strikes targeting U.S. military installations across the Middle East, including what it described as its first direct attack on American-linked targets in Syria. The announcement came after six consecutive nights of U.S. strikes against Iranian military positions.

The U.S. Central Command, meanwhile, confirmed that American forces had begun a new wave of operations aimed at degrading Iran's military capabilities, signaling that the confrontation remains far from contained.

The escalating conflict has also drawn renewed warnings from international energy officials.

International Energy Agency Executive Director Fatih Birol said safeguarding global oil supplies remains a critical priority, cautioning that a prolonged crisis could significantly undermine market stability in the weeks ahead.

With geopolitical risks once again dominating commodity markets, traders are closely monitoring developments around the Strait of Hormuz and the Red Sea, two strategic chokepoints that together handle a substantial share of the world's seaborne oil trade.

Any sustained disruption to either route could tighten global supplies further and keep upward pressure on crude prices despite broader concerns about global economic growth.