Oil Jumps Over 1% as U.S. Strikes Iran

Oil prices rose again on Thursday after new attacks in the Middle East. The market reacted to reports that Washington launched strikes against Iran. This pushed energy futures higher for a second day in a row. Supply fears are driving the move now. Traders are buying ahead of potential disruptions to global flows. The mood has shifted from caution to active defense.

Tensions grew after Tehran attacked ships near the Strait of Hormuz. President Donald Trump said the ceasefire is over and ruled out more talks with Tehran. The U.S. Central Command confirmed the strikes were a response to attacks on vessels in that critical waterway. With diplomacy closed, the focus is on military action and energy flows. The region remains unstable as both sides dig in.

Brent crude futures for September delivery rose 1.03 percent to 78 dollars and 82 cents a barrel. U.S. West Texas Intermediate gained 1.06 percent to 74 dollars and 29 cents per barrel. These gains built on a surge of more than 4 percent the day before. Two straight sessions show strong upward momentum as traders digest the news. The pace of the rise is notable given recent volatility.

Traders are pricing in the risk that renewed attacks could choke flows through the Strait of Hormuz. This waterway is a global energy bottleneck. Even small disruptions there can cause big spikes in prompt oil prices and freight costs. Markets must now account for higher geopolitical volatility. The worry is about potential shipping halts. Insurance rates for tankers are already climbing.

Immediate fears are driving the rally but real supply cuts depend on what happens next. Attacks could stay targeted or escalate into a wider conflict that stops shipping entirely. The market bets on disruption yet the size of any shortage remains unclear. Sentiment shifts fast if fighting stays contained. A single missed target could change the narrative quickly.

So oil climbed again as the Strait of Hormuz became the center of a standoff between Washington and Tehran. Prices sit at 78 dollars and 82 cents for Brent and 74 dollars and 29 cents for WTI after a volatile week. Watch whether shipping traffic keeps moving or if future strikes force a physical cutoff.