Oil rises as expanding US-Israeli conflict with Iran elevates supply risks

Oil prices rose for a third day on ​Tuesday as the widening U.S.-Israeli conflict with Iran and threats to shipping through the Strait of Hormuz ‌heightened fears of supply disruptions from the key Middle East producing region, citing Reuters.

Brent crude futures were at $79.44 a barrel, up $1.70, or 2.2%, by 0400 GMT. On Monday, the contract surged to as high as $82.37, its highest since January 2025, though it pared those gains to settle 6.7% higher.