Oil Prices Surge as Hormuz Tensions Escalate Globally

ISLAMABAD: (Web Desk) – Oil prices continued their upward momentum on Wednesday as global markets reacted to ongoing uncertainty surrounding U.S.-Iran talks and growing concerns over a prolonged disruption near the Strait of Hormuz.

Brent crude climbed to around $114.70 per barrel in early trading, while West Texas Intermediate (WTI) surpassed the $103 mark. Later, Brent futures were recorded at $114.50, marking a more than one-month high, as investors assessed reports of an extended U.S. naval presence in the Gulf of Oman aimed at restricting Iranian oil exports.

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WTI crude also rose sharply by 3.48%, reaching $103.40 per barrel, continuing a multi-day rally driven by supply disruption fears.

Market sentiment has been further influenced by reports suggesting Washington is preparing for a longer blockade strategy, with U.S. officials indicating that President Donald Trump has directed preparations for sustained pressure on Iran’s oil trade.

Analysts warn that the prolonged closure or disruption of the Strait of Hormuz could significantly tighten global oil supply. Experts note that expectations for reopening the route keep shifting further into the future, raising concerns that continued closure into late spring or summer could trigger a deeper global energy crisis.