Global oil prices remained high on Monday as markets reacted to rising geopolitical tensions in the Middle East. A barrel of Brent crude oil traded above $104, maintaining its recent strong levels. Investors continue to watch the region closely because supply risks could disrupt global energy markets.
At the same time, West Texas Intermediate (WTI), the main U.S. oil benchmark, traded at about $99.27 per barrel. Both major oil benchmarks have increased sharply since the beginning of the month.
Energy analysts say oil prices have surged nearly 40 percent since the escalation of the Iran conflict earlier this month. Growing fears about supply disruptions pushed traders to buy oil contracts, driving prices upward across international markets.
One of the main concerns involves the security of the Strait of Hormuz. This narrow waterway is one of the most important oil shipping routes in the world. A large portion of global crude exports passes through the Strait each day.
Donald Trump called on other countries to help protect the strategic waterway. The U.S. president asked international partners to cooperate in securing shipping routes and preventing disruptions in global energy supplies.
The request came after rising military tensions in the region. The United States reportedly targeted Iranian military installations on Kharg Island, which is a major Iranian oil export terminal. In response, Iran launched attacks on the Port of Fujairah in the United Arab Emirates.
Meanwhile, Israel announced preparations for a three-week military plan, signaling that the conflict could continue for a longer period. Analysts warn that if tensions persist, energy shipments through the Strait of Hormuz may face further disruptions.
Such uncertainty places strong pressure on global oil markets. Traders fear that any major disruption to shipping routes could reduce supply and push Brent oil prices even higher in the coming weeks.
