Brent crude oil surged above $86 per barrel after escalating US-Iran tensions raised concerns over disruptions in the Strait of Hormuz.
The U.S launched a new wave of strikes on Iran, while Tehran retaliated against U.S.-linked targets, raising fears of a wider regional conflict.
Gulf nations urge diplomatic resolution and warn that expanding conflict could destabilize Middle East energy and trade routes.
Iran’s new supreme leader says war will continue unless security guarantees and foreign military withdrawal demands are met.