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Oil Prices Extend Gains as Iran-Israel Conflict Enters Sixth Day

Oil prices continued their upward climb for the sixth consecutive day, as escalating tensions between Iran and Israel fuel concerns over global supply disruptions. Brent crude futures rose another 3.2%, reaching $76.42 per barrel, while U.S. West Texas Intermediate (WTI) edged higher to $72.89. This steady rally reflects investor unease over prolonged conflict in a region that plays a pivotal role in global energy flow.

The Middle East standoff shows no signs of resolution, with both sides intensifying rhetoric and military action. With each passing day, the possibility of damage to vital oil infrastructure or restricted access to key shipping lanes—particularly the Strait of Hormuz—becomes increasingly plausible. Traders are pricing in the growing risk, pushing crude futures higher and adding to last week’s sharp gains.  The Star

Supply Risks and Haven Demand Drive Market Sentiment

Beyond immediate conflict fears, the market is also reacting to broader implications for global supply. Iran remains a significant oil producer, and any disruption to its output or exports would have ripple effects across global energy markets. In addition, fears of retaliatory moves or regional spillover are amplifying investor caution.

The ongoing uncertainty has turned crude oil into a de facto safe-haven asset, with traders shifting capital in response to risk-off sentiment. Energy stocks have also rallied in tandem, benefiting from higher price expectations in the short term.

Despite ongoing talks among global powers to de-escalate tensions, no clear diplomatic breakthrough has been achieved. Until concrete steps toward peace emerge, market analysts expect oil to remain volatile, with potential for sharp intraday swings. Reuters

Outlook: Volatility Likely to Persist

The path ahead remains uncertain. If the conflict drags on or expands, analysts warn of further supply shocks and sustained price pressure. The oil market is already grappling with tight inventories, and any disruption to Middle Eastern output could worsen the imbalance.

As the Iran-Israel conflict continues into its sixth day, the energy market remains on high alert—responding to every development with swift price action and a heightened sense of risk.

 

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