The impact of geopolitical tensions is once again visible in the global market. Crude oil prices saw a sharp surge on Monday. Rising tensions between the US and Iran heightened investor anxiety, driving oil prices up by more than 2 percent. The price of Brent crude once again crossed the $90-per-barrel mark. Market experts state that any military tension in West Asia could disrupt oil supplies, potentially leading to price hikes. Concerns arising from a US strike are considered the primary reason for this rally in the oil market; the surge follows an action taken by the US military on Sunday. According to reports, the US military targeted two Iranian launchers located on Iran’s Larak Island in the Strait of Hormuz. This is reportedly the first known US strike in the Gulf region since late July. The incident has fueled fears that further escalation could impact global oil supplies. The Strait of Hormuz is one of the world’s most critical oil transport routes; any instability there directly affects international oil prices. Brent Crude crosses $90: Oil market data shows that by 22:02 GMT, Brent crude futures had risen by $2.22—or 2.52 percent—pushing the price to $90.32 per barrel. Meanwhile, US West Texas Intermediate (WTI) crude also saw gains, rising by $2.01 (2.41 percent) to reach $85.41 per barrel. This rally indicates that investors have become wary of the situation in West Asia and are reacting to the market with potential supply risks in mind. Heightened concerns over oil supply: Supply-related concerns are the primary driver behind the rising crude oil prices. West Asia is one of the world’s major oil-producing regions. If military tensions in the region escalate or oil transport routes are disrupted, the availability of crude oil in the global market could be affected.
