Oil Prices Reach One-Month High as US-Iran Tensions Intensify

Global oil prices continued their upward trend on Tuesday, reaching their highest levels in nearly a month as renewed military tensions between the United States and Iran raised fresh concerns over crude supply and shipping through the Strait of Hormuz.

Brent crude settled sharply higher at $83.30 per barrel on Monday, while WTI crude closed at $78.14 per barrel. Buying momentum continued into Tuesday, with Brent climbing above $85 per barrel and WTI approaching $80 per barrel, reflecting growing geopolitical risk in the energy market.

The latest rally followed an escalation in military activity between the US and Iran, increasing uncertainty over the security of Middle Eastern oil exports. Although crude shipments have not been significantly disrupted so far, traders have added a higher risk premium amid fears that the conflict could affect one of the world's most important energy transit routes.

Shipping activity through the Strait of Hormuz has also weakened, with tanker movements falling to their lowest level in two months. Market sentiment was further affected after attacks on commercial tankers in the region heightened concerns over the safety of maritime transport and the potential impact on global oil supplies.

Despite the strong price gains, analysts believe the next direction for oil will depend on whether geopolitical tensions lead to actual supply disruptions. If exports continue without major interruptions, some of the recent risk premium could ease. However, any further attacks on shipping or energy infrastructure are likely to provide additional support to crude prices.

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