Global oil prices surged to their highest level in five weeks on growing concerns that escalating military tensions across the Middle East could disrupt energy supplies. Brent crude rose above $95 per barrel as fighting between the United States and Iran intensified and Yemen's Houthis threatened Saudi shipping.

Oil Prices Reach Five-Week High

Brent crude climbed 4.65% over the past 24 hours to $95.24 per barrel, while U.S. benchmark West Texas Intermediate (WTI) gained 4.80% to $88.39 per barrel.

The increase pushed Brent to its highest level in five weeks amid heightened concerns over regional stability and global oil supplies.

Conflict Raises Supply Fears

According to Reuters, the rally was driven by fears that the expanding conflict could disrupt crude exports from the Middle East. Market sentiment was further shaken by continued U.S. military strikes and reported drone attacks targeting Kuwait.

Oil prices also gained after U.S. forces struck targets in southern and western Iran, prompting Tehran to launch retaliatory attacks against U.S. facilities in Bahrain, Kuwait, and Jordan.

Houthis Add Pressure to Energy Markets

Concerns over supply security intensified after Yemen's Iran-aligned Houthi movement threatened to target Saudi oil tankers transiting the Bab al-Mandab Strait.

According to Reuters, the group also announced what it described as a maritime blockade on Saudi vessels, raising fresh concerns about the security of key global energy shipping routes.