Oil rises after US-Iran hostilities flare again with strikes on energy targets

Brent crude rose 1.72% to $86.19 a barrel and WTI gained 1.4% to $80.40 a barrel, marking their highest close since June, as fresh US strikes on Iranian energy targets and Tehran's renewed closure of the Strait of Hormuz deepened supply disruption concerns. About one-fifth of global oil and LNG transited through the strait prior to the conflict. Analysts noted Brent could move toward $100 if hostilities intensify and damage Gulf energy infrastructure, while diplomatic efforts could keep prices in the $75-$80 range.