Global Oil Prices Surge Over 3% Amid U.S.-Iran Military Clash... Brent Crude Reaches $91 Range

International oil prices surged on the 31st local time as the United States and Iran resumed military clashes after about a month.

As of 9:48 a.m. Eastern Time that day, October Brent crude on London's ICE Futures Exchange was trading up 3.54% at $91.22 per barrel compared to the previous session.

At the same time, October delivery West Texas Intermediate (WTI) on the New York Mercantile Exchange was up 3.39% at $86.23 per barrel compared to the previous session.

The rise in oil prices was triggered by the U.S. military airstrikes the previous day targeting two rocket launchers on Larak Island, Iran, in the Strait of Hormuz.

Iran immediately retaliated, launching missile and drone attacks targeting U.S. military bases in Jordan and the United Arab Emirates (UAE).

U.S. President Donald Trump posted on Truth Social, threatening Iran's largest crude oil export hub, Kharg Island, writing that it would be "blown to pieces."

As direct military engagement between the two countries, which had been relatively quiet for about a month, resumed, concerns over a blockade and supply disruptions in the Strait of Hormuz—a key route for global oil shipments—were heightened once again.

(Photo: Getty Images)
※ Please note: This article was translated by AI and may contain errors.