Global crude oil prices rose more than 1% as renewed geopolitical concerns in the Middle East and fresh comments from U.S. President Donald Trump heightened uncertainty around Iran and regional shipping routes.
Brent crude advanced by around $1.32 (1.25%) to approximately $107.04 per barrel, while West Texas Intermediate (WTI) gained about $1.33 (1.31%) to trade near $102.50 during early Asian trading hours.
For the week, both benchmarks recorded strong gains, with Brent up nearly 6% and WTI rising more than 7%, driven by ongoing supply concerns and instability surrounding the Iran conflict and maritime security in the Strait of Hormuz.
Market sentiment was pressured after Trump stated in a recent interview that his administration’s patience with Iran is “running out,” adding pressure on diplomatic efforts and reinforcing expectations of continued tensions. He also urged Iran to reach an agreement, signaling a tougher stance.
Energy markets are also closely watching developments from high-level discussions between the United States and China, where officials acknowledged the strategic importance of keeping key global shipping lanes, including the Strait of Hormuz, open for international trade.
Despite reports that some vessels have recently passed through the Strait, shipping activity remains below normal levels, keeping traders cautious about potential supply disruptions.
Recent incidents in the region, including vessel seizures and maritime attacks near Gulf waters, have further added to concerns about the security of global oil transport routes. Although Iran has indicated increased passage of ships compared to earlier disruptions, activity still remains significantly below pre-conflict levels.
Analysts note that while some easing in shipping flows has helped calm immediate fears, the overall direction of oil prices continues to be driven by tight supply conditions and ongoing geopolitical risks rather than short-term fluctuations.
Market experts suggest that unless there is a clear resolution to regional tensions or a major improvement in supply stability, crude oil prices may remain elevated in the near term.