TNI Bureau: Global crude oil prices have climbed significantly as intensifying conflict in the Middle East fuels fears of supply disruptions. Brent crude, the international benchmark, surged to around $82 per barrel, registering a sharp single-day gain of over 10 percent. Meanwhile, U.S. benchmark West Texas Intermediate (WTI) rose past $72 per barrel, reflecting similar volatility.

The spike is largely driven by concerns over the security of the Strait of Hormuz — a critical maritime route that handles nearly 20 percent of the world’s oil shipments. Any threat to this corridor immediately raises the risk premium in global energy markets.

Although OPEC+ has indicated plans to modestly raise output in the coming months, analysts caution that additional production may not fully offset potential supply disruptions if tensions escalate further.

Higher crude prices could translate into increased fuel costs worldwide, adding fresh pressure on inflation and import-dependent economies.