Oil Prices Set for Biggest Weekly Jump Since July on US-Iran Tensions

Oil is on track for its largest weekly gain in over two months, as fresh hostilities between the United States and Iran raise fears of sustained supply disruptions in a key global shipping route. The renewed conflict has intensified concerns about energy flows through the Strait of Hormuz, a narrow waterway that carries roughly one-fifth of the world’s oil supply. Traders are now pricing in the risk of prolonged interruptions to tanker traffic, pushing crude prices sharply higher. According to market analysts, the weekly increase marks the steepest climb since late July. The rally reflects growing anxiety that military tensions could escalate into a broader disruption of Middle East exports, rather than a short-lived spike. The Strait of Hormuz remains a critical chokepoint for global energy security. Any significant blockage there would affect shipments to major consumers in Asia, Europe, and North America. While no physical disruption to tanker movements has been reported so far, the mere threat of conflict has been enough to move prices. Investors are now watching for further diplomatic developments, as well as any signs of actual supply cuts from major producers in the region. For now, the market remains on edge, with volatility expected to continue in the coming days.