ISTANBUL

Brent crude oil futures rose above $110 per barrel again on Friday as markets priced in prolonged disruption risks in the Mideast, with investors focused on reduced flows through the Strait of Hormuz and the possibility of further regional supply losses.

International benchmark Brent crude futures traded at $110.12 as of 0830GMT, while US benchmark West Texas Intermediate stood at $94.85. Despite easing slightly on the day, both benchmarks remained sharply higher than before the latest phase of the conflict began.

The rise in prices came as the war in the Middle East continued to disrupt energy markets, with the Strait of Hormuz — a vital corridor for global crude and LNG shipments — operating under severe strain. The conflict had nearly halted shipments through the waterway, which normally carries about one-fifth of the world’s crude oil and LNG supply.

Oil markets stayed under pressure as conflicting signals from Washington and Tehran clouded prospects for a near-term de-escalation, even after US President Donald Trump extended by 10 days a pause on strikes targeting Iranian energy infrastructure.

Traders continued to focus on the risk of a prolonged conflict rather than daily diplomatic headlines, with concerns centered on the impact of disrupted flows through the Strait of Hormuz.

The International Energy Agency has described the current supply shock as more severe than the 1970s oil crises and the Russia-Ukraine gas disruption combined, while Reuters reported that around 11 million barrels per day have been removed from global supply.