Oil Prices Surge to Five-Month High on US-Iran Escalation and Strait of Hormuz Risk

Oil prices soared on Monday, reaching their highest levels since January, after the United States joined Israel in striking Iranian nuclear facilities over the weekend—an escalation that heightened concerns of a broader conflict and potential supply disruptions in the Middle East.

Brent, WTI Surge as Tensions Mount

• Brent crude rose by 1.97% to $78.53 a barrel after touching an intraday high of $81.40.

• WTI crude gained 2.04% to $75.35, after briefly hitting $78.40 earlier in the session.

These jumps follow U.S. President Donald Trump's announcement that Iran’s key nuclear sites were "obliterated," intensifying fears of retaliation and disruption to global crude flows.

Strait of Hormuz Closure Risk in Focus

Iran, OPEC’s third-largest crude producer, reportedly moved a step closer to closing the Strait of Hormuz—a critical chokepoint through which 20% of global oil supply passes. Any blockade could send prices spiraling.

Analysts are already bracing for higher benchmarks:

• Sugandha Sachdeva of SS WealthStreet sees a move toward $100–$120 per barrel as plausible.

• Goldman Sachs estimates a temporary peak at $110 if oil flow through the strait is halved.

The threat to oil infrastructure is also causing global shippers to reconsider activity in the region, as risks of long-term disruption climb.

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