Global oil prices continued to climb as tensions in the Middle East intensified, pushing Brent crude above the $100-per-barrel mark.
According to reports, Brent crude rose to $100.5 per barrel, its highest level in the past two months.
US West Texas Intermediate (WTI) crude also gained, reaching $91.65 per barrel.
At the same time, shipping activity through the Strait of Hormuz has slowed significantly amid regional tensions.
According to Reuters, only one oil tanker passed through the strategic waterway on Thursday.
The report said the tanker New Giant, carrying approximately two million barrels of Iraqi crude oil, transited the Strait of Hormuz before heading toward Rizhao Port in China.
Analysts say escalating geopolitical tensions and concerns over potential disruptions to oil supplies continue to drive volatility in global energy markets.
