Global oil markets are facing renewed volatility as Brent crude climbed above $90 a barrel on Monday, marking its highest level in months. This sharp upward trend follows a week of significant gains, fueled by fears of supply disruptions in the Strait of Hormuz. As military hostilities between the U.S. and Iran continue to escalate—with both nations trading strikes and enforcing competing maritime blockades—traders are increasingly worried that the conflict could choke off one of the world's most critical energy transit routes.

The situation remains highly precarious, particularly after reports of tanker explosions and ongoing naval confrontations near the Gulf. Analysts warn that the market may be underestimating the risks, especially given that global oil inventories are currently at their lowest levels in five years. With ship traffic through the Strait of Hormuz already showing a noticeable decline, the coming days will be crucial in determining whether the region can maintain consistent export levels or if the world is headed toward a broader energy supply crisis.