Brent Climbs Toward $96 Amid Iran Tensions

Brent crude has surged to $95.8 a barrel, edging closer to the $96 mark as heightened tensions between Iran and Western powers continue to unsettle the global oil market. The price jump, up 1.2% on the day, reflects growing fears that Iran’s strategic oil reserves could be disrupted by further sanctions or military action.

OPEC+ has maintained its output‑cut stance, but the uncertainty over Iranian supply has amplified price volatility. Analysts note that any escalation could prompt a sharper rally, while a de-escalation might see the price retreat to the $94–95 range.

Investors are closely monitoring developments in the Strait of Hormuz and the broader geopolitical landscape, as even a brief supply disruption could push Brent above the $96 threshold for the first time in months. The market remains on edge, with traders weighing the potential for a sustained rally against the possibility of a rapid correction once tensions ease.