ISTANBUL

Oil prices rose 6% in international markets due to increasing geopolitical risks and supply concerns.

Brent crude oil closed the day at $78.15 after reaching daily high of $79.85 on Monday,

As of 13.39 on Tuesday (1039GMT), Brent crude oil was trading at $82.82, a 5.97% increase compared to the closing price.

West Texas Intermediate (WTI) crude oil' price at $76.08 per barrel, up 6.6%.

Brent futures, which reached its highest level since January 2025 on Monday at $82.37, reached $82.80 on Tuesday.

Oil prices continue their upward trend as escalating conflicts in the Middle East and threats to energy shipments through the Strait of Hormuz increase concerns about supply disruptions.

Ebrahim Jabbari, a senior adviser to Iran’s Revolutionary Guard Corps (IRGC) commander-in-chief, on Monday announced the strait’s closure to traffic amid the ongoing attacks on the country, saying any vessel traversing the waterway would be targeted.

Jabbari also indicated that, in addition to maritime transport, oil pipelines in the region could also be targeted.

The price of Brent crude oil was at around $73 per barrel at the last week's close.

*Writing by Gokhan Ergocun