Global oil prices extended their gains early Wednesday as escalating tensions between the United States and Iran heightened fears of disruptions to energy supplies in the Gulf.
Brent crude futures rose $1.46, or 1.72%, to $86.19 per barrel, while US West Texas Intermediate (WTI) crude gained $1.11, or 1.4%, to $80.40 per barrel as of 00:29 GMT.
The increase comes as the United States intensified pressure on Iran by imposing a naval blockade on Iranian ports, while Tehran responded with retaliatory strikes targeting US bases in the region, raising concerns over the security of key shipping routes and global oil supplies.
