US launches air strikes on Iran, renews blockade of Iranian ports

Oil prices climbed on Tuesday after the United States announced the renewal of a naval blockade on Iran’s southern ports and launched a series of air strikes targeting Iranian facilities. The actions, described by the Pentagon as a response to Tehran’s recent missile launches and support for regional militias, prompted immediate concern among traders about potential disruptions to the flow of Persian Gulf crude. Brent crude futures rose roughly 2 percent, reaching about $85 a barrel, while U.S. West Texas Intermediate gained a similar margin.

Analysts linked the price surge to heightened geopolitical risk, noting that the blockade restricts access to key export terminals that handle a significant share of the world’s oil supply. The United Nations has called for restraint, and OPEC+ members are monitoring the situation closely, warning that prolonged tension could tighten global markets. For now, the market appears to be pricing in a short‑term supply squeeze, with investors awaiting further diplomatic developments to gauge the durability of the U.S. measures.