Oil benchmarks extended their advance for a third consecutive session on Thursday as traders weighed the risk of potential U.S. military action against Iran, a key Middle Eastern supplier, and the associated threat of regional supply disruption. International marker Oil – Brent Crude futures were last quoted around $68.90 per barrel, up roughly 0.7% intraday, while U.S. benchmark Oil – US Crude also moved higher. The price strength reflects a growing geopolitical risk premium layered onto an already tightening market, as participants assess how any escalation could affect shipping routes and export flows from the Persian Gulf.
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Over the past month, Oil – US Crude has climbed about 10.76%, underscoring a firm upward trend supported by both rising risk sentiment and expectations of constrained supply. Its 1-day technical signal currently screens as a Buy, indicating short‑term momentum remains constructive. Oil – Brent Crude has gained approximately 11.35% over the same period, slightly outperforming U.S. crude and reinforcing its role as a barometer of global supply risk. Brent’s 1-day technical outlook also points to a Buy bias, suggesting that, for now, market technicians see further upside potential while geopolitical tensions persist. Investors can explore more updates, prices, and analysis across global markets at Commodities.