Global oil prices rose after military strikes involving the United States and Iran heightened concerns over the reopening and security of the Strait of Hormuz, one of the world's most important oil shipping routes.
Investors fear that continued hostilities could delay or disrupt commercial shipping through the strait, where a significant share of the world's crude oil and liquefied natural gas passes each day.
Energy analysts say any threat to navigation in the Strait of Hormuz could tighten global oil supplies, driving prices higher and increasing volatility in international energy markets.
Despite the recent increase, some experts believe oil prices could stabilize if tensions ease and safe passage through the waterway is restored in the coming days.
Governments and international organizations have urged all parties to exercise restraint and pursue diplomatic solutions to prevent further escalation, protect maritime trade, and maintain stability in global energy markets.