Brent crude rises above USD87 a barrel amid fears of supply disruptions and shipping risks in the Gulf

LONDON: Global oil prices surged on Tuesday after the United States launched a fresh wave of strikes on Iran and pledged to reimpose a naval blockade, heightening concerns over potential disruptions to energy supplies from the Middle East.

International benchmark Brent crude rose 5.1 per cent to USD87.51 per barrel, while West Texas Intermediate (WTI), the US benchmark, gained 3.9 per cent to USD81.21 per barrel, according to market data.

The rally reflected mounting investor concerns that the latest escalation between Washington and Tehran could disrupt oil exports from one of the world’s most strategically important energy-producing regions.

Market participants also expressed concern that rising military tensions could threaten shipping through key maritime routes in the Gulf, increasing the risk of supply bottlenecks and further tightening global oil markets.

The latest surge in crude prices added to uncertainty across global financial markets, with investors increasingly worried that higher energy costs could intensify inflationary pressures and weigh on global economic growth.

Oil-importing countries, including Pakistan, could face increased import bills and additional pressure on their external accounts if elevated crude prices persist.

Analysts said future price movements will largely depend on the trajectory of the Iran-US conflict and whether tensions lead to sustained disruptions in regional oil production or exports.

Investors are expected to closely monitor geopolitical developments in the coming days, as any further escalation in the Middle East could trigger renewed volatility in global energy markets and financial assets.