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Global oil prices jumped by approximately 3% during Monday's trading session, pushing Brent crude past the $90-per-barrel milestone. The price spike comes in response to an intensifying military confrontation between the United States and Iran, which has triggered widespread anxieties over potential supply disruptions through the strategic Strait of Hormuz—a vital maritime chokepoint handling nearly one-fifth of global oil consumption.

Market Price Summary

The geopolitical premium added significant value to both major global crude benchmarks:

Brent Crude: Futures advanced by $2.77, or 3.14%, to settle at $90.87 per barrel—marking its highest trading level since June 11. This follows a massive 15.9% weekly gain recorded last week, which stood as the benchmark's largest weekly rally since April.

West Texas Intermediate (WTI): US crude futures climbed by $2.35, or 2.85%, to reach $84.84 per barrel, hitting its highest point since June 12. This follows a stellar 15.5% weekly surge, the sharpest weekly increase for WTI since early March.

Escalating Military Fronts

The sudden market gains were catalyzed by a sharp escalation in military operations over the weekend. The United States executed its ninth consecutive night of sustained airstrikes targeting Iranian assets, a serious operational development that has heightened fears of an all-out, expanded conflict across the Middle East.

Analyst Warnings and Outlook

Financial services firm ING Group noted that Brent crude breaching the $90 threshold serves as a clear indicator that the geopolitical escalation is continuing with zero signs of near-term cooling. The group warned that if the tit-for-tat military exchange persists, the region could face a broader wave of disruptions that would heavily destabilize global energy markets and supply security.