Collected PhotoGlobal oil prices continued to rise amid growing concerns that escalating tensions and prolonged conflict in the Middle East could disrupt crude supplies.
As of 12AM GMT on Monday (September 7), international benchmark Brent crude rose 34 cents, or 0.35 percent, to $97.34 a barrel.
US West Texas Intermediate (WTI) crude gained $1.15, or 1.26 per cent, to $92.63 a barrel.
According to Reuters, Iran has threatened to retaliate if the United States launches fresh attacks on its facilities or assets, fueling fears that the conflict in the Middle East could drag on and further threaten global oil supplies.
Concerns over potential disruptions have added a risk premium to crude prices, particularly amid heightened tensions surrounding the Strait of Hormuz, a key global oil transit route.
Brent crude had already climbed to its highest level since July 24 in the previous trading session as traders priced in the growing risk of supply disruptions.
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