Global crude benchmarks are charging toward the $100-a-barrel threshold this week. Brent futures climbed to $96.98, while West Texas Intermediate hovered firmly above $91 following renewed geopolitical shocks.
According to market data, the aggressive rally follows fresh United States airstrikes against Iran, threatening vital crude flows through the strategic Strait of Hormuz.
The ongoing conflict, now in its seventh month, has sharply restricted commercial vessel movements. Energy analysts warn that prolonged disruptions could push energy costs past the psychological $100 ceiling.
Both major benchmarks are currently pacing for their strongest weekly gains since July. Downstream petroleum product markets are already feeling intense inflationary pressure globally.
