US-Iran Strikes Push Brent Crude Up Over 4%

Brent crude futures climbed more than 4% on Monday, reaching around $79 to $83 per barrel, after retaliatory military strikes between the United States and Iran intensified. The escalation disrupted shipping in key oil transit routes, fueling supply concerns.

The price jump followed a series of exchanges in which U.S. forces targeted Iranian positions in response to earlier attacks, and Iran launched counterstrikes. The conflict has raised fears of broader regional instability, threatening oil infrastructure and maritime traffic.

Analysts noted that the disruption to shipping lanes, particularly in the Strait of Hormuz, a critical chokepoint for global oil shipments, contributed to the sharp price increase. Traders reacted to the heightened risk of supply outages from the region.

The rally marked the largest single-day gain for Brent crude in weeks, as markets weighed the potential for further escalation. The situation remains fluid, with diplomatic efforts to de-escalate ongoing but showing limited progress.