Oil prices rise on war fears as traders react to the risk of supply losses from shipping disruptions in the Middle East, a key global crude-producing region. Brent crude and US West Texas Intermediate both moved higher on Monday as concerns over the conflict in Iran continued to shake energy markets.
Brent crude futures rose $1.71, or 1.6%, to $110.74 a barrel by 0057 GMT. US West Texas Intermediate crude futures gained $0.71, or 0.6%, to $112.25 per barrel.
The latest gains followed sharp moves from the previous trading session. On Thursday, the last trading day before the Good Friday holiday break, WTI settled up more than 11%, while Brent climbed nearly 8% in highly volatile trading.
The market reaction came as President Donald Trump said the United States would continue attacks on Iran. At the same time, the Strait of Hormuz remained largely closed because of Iranian attacks on shipping after the war began on February 28.
That waterway is one of the world’s most important energy routes. It carries oil and petroleum products from Iraq, Saudi Arabia, Qatar, Kuwait, and the United Arab Emirates.
Refiners Search for Alternative Crude Supplies
Because of disruptions in Middle Eastern supplies, refiners have begun seeking alternative crude sources. Demand has increased, especially for physical cargoes, in the United States and the UK North Sea.
The Schork Group said global buyers were bidding aggressively for US Gulf Coast barrels, while Brent was rising even faster. That reflects growing concern that regional supply interruptions could last longer than initially expected.
In France, rising oil and gas prices are disrupting the fishing industry, with some boats staying in port as crews struggle to cover costs. The fallout from the US-Israeli war on Iran is now affecting Europe’s food supply.
Al Jazeera’s @natachabut reports. pic.twitter.com/oi7ImXymM6
— Al Jazeera English (@AJEnglish) April 5, 2026On Sunday, Trump increased pressure on Iran in a social media post. He threatened to target Iran’s power plants and bridges on Tuesday if the Strait of Hormuz is not reopened.
Read: Oil Prices Surge After Trump Speech, Amid Global Tensions Markets React
Even so, some ships have continued to pass through the strait. Shipping data showed that an Omani-operated tanker, a French-owned container ship, and a Japanese-owned gas carrier crossed since Thursday, suggesting Iran is still allowing vessels from countries it considers friendly.
OPEC+ Output Move Offers Limited Relief
Meanwhile, the war shows little sign of ending soon. Iran has told mediators it is not ready to meet US officials in Islamabad in the coming days, while ceasefire efforts have stalled.
OPEC+ also agreed on Sunday to a modest output increase of 206,000 barrels per day for May. However, the additional supply may have only a limited impact, as several key producers are struggling to raise output amid the conflict.
Russian exports have also faced disruption after Ukrainian drone attacks on its Baltic Sea export terminal. Reports on Sunday said the Ust-Luga terminal resumed loadings on Saturday after several days of interruptions.
