Oil prices rose for a fourth straight session on Thursday as renewed US strikes on Iran fueled concerns over potential supply disruptions and escalating tensions in the Middle East.
Brent crude gained 0.4% to $85.28 a barrel by 00:26 GMT, while US West Texas Intermediate (WTI) climbed 0.5% to $80.02 a barrel.
The latest gains come amid fears that the conflict could further disrupt shipping through the Strait of Hormuz, a key global energy transit route that previously handled around 20% of the world's oil and liquefied natural gas trade.
According to Goldman Sachs, Brent crude prices could rise above $110 per barrel in the fourth quarter if energy exports from the Gulf remain significantly constrained. Reuters reported that markets continue to closely monitor developments in the region for signs of further supply risks.
