Oil markets were thrown into turmoil Monday as crude prices soared sharply amid fears the Middle East war could disrupt global energy supplies. According to traders Brent crude futures jumped about 13 percent and briefly climbed above $82 per barrel well past the critical $80 mark in the first session after the weekend’s escalation in the region.
The surge reflects growing anxiety that conflict between the United States Israel and Iran might interrupt shipping particularly through the Strait of Hormuz a narrow waterway through which around one‑fifth of the world’s oil typically flows. Major shipping firms have begun suspending fleet movements through the strait raising the spectre of a bottleneck in global crude flows.
Analysts warn that prolonged disruptions could remove millions of barrels per day from global supply pushing energy prices even higher. Some market strategists say oil could potentially climb toward $90 or more per barrel if maritime tensions persist and insurance costs remain elevated tightening already fragile supply chains.
The spike in crude has reverberated beyond oil markets with investors watching closely for potential knock‑on effects on gasoline prices inflation and broader economic activity worldwide. Even as Brent pared some of its gains later in the session the jump underscores how geopolitical risk is rapidly reshaping energy pricing amid intensifying Middle East hostilities
