RoydadNaft –  Brent crude futures rose 66 cents, or 0.7 percent, to $91.15 a barrel. U.S. West Texas Intermediate (WTI) crude futures rose 70 cents, or 0.8 percent, to $86.46 a barrel.

According to Roydad Naft, citing Reuters, oil prices gained on Tuesday as the resumption of fighting between the United States and Iran in the Middle East renewed fears of supply disruptions from the world’s key crude-producing region.

Brent crude futures were up 66 cents, or 0.7 percent, to $91.15 a barrel at 6:40 a.m. GMT, while U.S. West Texas Intermediate crude was up 70 cents, or 0.8 percent, to $86.46.

In the previous session, Brent closed up 2.7 percent and at one point reached its highest level since August 25. WTI settled up 2.8 percent and touched its highest since August 21.

On Monday, U.S. President Donald Trump threatened further strikes against Iran after the first direct exchange of attacks between the two countries in a month on Sunday, raising tensions in a conflict that had recently shifted into an economic standoff.

“These bring the potential for Iranian retaliation back into the equation. That in turn raises the prospect of damage to energy infrastructure around the Gulf and adds fresh uncertainty for shipping through the Strait of Hormuz. Both of those risks are being reflected in the firmer tone in crude prices,” said Tim Waterer, chief market analyst at KCM.

On Monday, the number of visible commodity vessels transiting the Strait of Hormuz held at five a day, below the 10-day average of about 14, shipping data from Kpler showed. None of the five ships were liquid tankers.

Efforts by mediators including Qatar and Oman to broker a deal to reopen the Strait of Hormuz, which carried about one-fifth of global oil supplies before the war began in late February, have so far failed to gain traction.

Iran shut the waterway after the United States and Israel attacked the country on February 28, 2026.

Highlighting the risks that remain to shipping and oil supply, the United Kingdom Maritime Trade Operations agency (UKMTO) said on Tuesday that a tanker reported being struck by three projectiles while sailing out of the Strait of Hormuz. No casualties or environmental impacts were reported.

“Despite satellite tracking firms suggesting oil flowing through Hormuz is around 6 million barrels per day, that is well below pre-conflict levels,” ANZ analysts said in a note.

“In the meantime, the buffers the global oil market has been relying on are becoming exhausted. U.S. inventories are nearing minimum levels, while China’s ability to keep imports low will be tested as seasonal demand picks up.”

Crude oil inventories in the U.S. Strategic Petroleum Reserve declined by about 3.1 million barrels last week, leaving stockpiles at 286.6 million barrels.