U.S. West Texas Intermediate crude<\/a>\u00a0jumped 74 cents, or 1%, to $71.97 a barrel. In the previous session, the contract initially climbed to its highest since June 2025 before sliding back to still settle up 6.3%.<\/p>\n“With no quick de-escalation in sight, the Strait of Hormuz effectively closed and Iran showing a willingness to target energy infrastructure in the region, upside risks remain and they grow the longer the conflict drags on,” Tony Sycamore, IG market analyst, said in a note.<\/p>\n
The U.S. and Israeli air war against Iran\u00a0widened\u00a0on Monday with Israel attacking Lebanon and Iran responding with strikes against energy infrastructure in Gulf countries and against tankers in the Strait of Hormuz.<\/p>\n
On a typical day, ships carrying crude\u00a0oil\u00a0equal to about one-fifth of\u00a0global\u00a0demand sail through the Strait of Hormuz along with tankers hauling diesel, gasoline and other fuels to major Asian markets including China and India. The waterway is also the conduit for about 20% of the world’s liquefied natural gas.<\/p>\n
Tankers and container ships are avoiding the waterway as insurers have\u00a0cancelled\u00a0their coverage for vessels.<\/p>\n
The concerns about transiting the waterway are increasing as Iranian media reported on Monday an Iranian Revolutionary Guards senior official saying the\u00a0Strait of Hormuz\u00a0is closed and Iran will fire on any ship trying to pass.<\/p>\n
Earlier on Monday, the Revolutionary Guards said a\u00a0fuel tanker, identified as the Honduran-flagged Athe Nova, was burning in the Strait after being hit by two drones, Iranian news agencies reported.<\/p>\n
Analysts expect\u00a0oil\u00a0prices to\u00a0remain elevated\u00a0over the coming days while markets focus on the impact of escalating Middle East conflict.<\/p>\n
Bernstein on Monday raised its 2026 Brent\u00a0oil\u00a0price assumption from $65 to $80 a barrel, but sees prices reaching $120-$150 in an extreme case of prolonged conflict.<\/p>\n
Refined product futures are also gaining as the Middle East is a key supplier of fuels and their processing facilities are at risk. On Monday, Saudi Arabia shut its biggest domestic\u00a0oil\u00a0refinery after a drone strike.<\/p>\n
U.S. ultra-low-sulfur diesel futures\u00a0HOc1\u00a0were up 3.1% at $2.991 after reaching a two-year high on Monday, while gasoline futures\u00a0RBc1\u00a0were up 1.1% after climbing 3.7% in the previous session.<\/p>\n
European gasoil\u00a0futures\u00a0LGOH6\u00a0gained 2.7% to $909.50 a metric ton, after climbing 18% on Monday.<\/p>\n","protected":false},"excerpt":{"rendered":"Oil rose on Tuesday as the widening regional conflict and threats to shipping through the Strait of Hormuz…\n","protected":false},"author":2,"featured_media":318961,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[105611,941,357,60097,67045,1435,42,30937,87,46,190,47,121067,158242,43,16755,78,114994,3336,40,38,41,39,1032,120553,30938],"class_list":{"0":"post-318960","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-headlines","8":"tag-ali-khamenei","9":"tag-breaking-news-markets","10":"tag-business-news","11":"tag-commodity-markets","12":"tag-crude-oil-markets","13":"tag-energy","14":"tag-headlines","15":"tag-ice-brent-crude-oct25","16":"tag-iran","17":"tag-israel","18":"tag-markets","19":"tag-middle-east","20":"tag-military-affairs","21":"tag-military-events","22":"tag-news","23":"tag-oil-and-gas","24":"tag-saudi-arabia","25":"tag-strait-of-hormuz","26":"tag-tehran","27":"tag-top-news","28":"tag-top-stories","29":"tag-topnews","30":"tag-topstories","31":"tag-united-states","32":"tag-united-states-military","33":"tag-wti-crude-sep25"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/318960","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/comments?post=318960"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/318960\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media\/318961"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media?parent=318960"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/categories?post=318960"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/tags?post=318960"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}