Oil prices surged on Monday, marking their highest levels since January as the U.S. and Israel’s military strikes against Iranian nuclear facilities raised fears of escalating conflict and potential supply disruptions in the Middle East.

Brent and WTI Prices Rise Sharply

• Brent crude rose by 1.97% to $78.53 a barrel, reaching an intraday high of $81.40.

• WTI crude increased 2.04% to $75.35, having briefly touched $78.40.

This upward movement followed President Donald Trump’s declaration that Iranian nuclear facilities had been “wiped out,” intensifying fears of retaliatory measures and global crude supply disruptions.

Strait of Hormuz Fears Intensify

Iran, OPEC’s third-largest oil producer, reportedly is one step closer to closing the Strait of Hormuz—an essential conduit through which approximately 20% of the world’s oil supply flows. Any closure could lead to soaring prices.

Analysts predict increasing oil price benchmarks:

• Sugandha Sachdeva of SS WealthStreet anticipates a move towards $100-$120 per barrel.

• Goldman Sachs estimates a temporary peak could be $110 if oil flow is halved through the strait.

The potential threat to oil infrastructure has led global shipping companies to rethink their operations in the region, as concerns about prolonged disruptions escalate.

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