Global crude oil prices surged past the $110-per-barrel mark on April 6, extending a sharp rally driven by escalating geopolitical tensions in the Middle East and fresh warnings from US President Donald Trump over the Strait of Hormuz.

Brent crude, the international benchmark, climbed above $110, while US West Texas Intermediate (WTI) hovered near $113, as markets reacted to heightened risks of supply disruption. The rally reflects growing concerns that a prolonged conflict could significantly impact global oil flows, particularly through the strategically critical Hormuz shipping route.

The surge follows a new deadline set by Trump, who warned Iran to reopen the Strait of Hormuz or face potential strikes on key infrastructure. Tehran, however, has rejected the ultimatum, with restrictions on maritime traffic continuing and only limited vessel movement reported through the chokepoint.

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The Strait of Hormuz handles nearly a fifth of global oil supply, making any disruption a major concern for energy markets worldwide. Analysts note that even partial blockages or threats to shipping lanes can trigger sharp price spikes due to fears of supply shortages and logistical bottlenecks.

The ongoing US-Israel-Iran conflict has further intensified uncertainty, with reports of attacks on energy infrastructure and stalled diplomatic efforts adding to market volatility. Traders are increasingly pricing in the risk of prolonged disruption, pushing crude prices to multi-year highs.

Despite some efforts by OPEC+ to increase output, the impact has been limited amid ongoing conflict-related constraints. Market participants remain cautious, with analysts warning that oil prices could rise further if tensions escalate or if the strait remains effectively closed for an extended period.

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